Perrysburg Market Stats – October 2009
November 9th, 2009 . by Jon ModeneFrom a median closed sale price of $197,000 per house sold in Perrysburg in October 2007 the median price has been slowly declining.
Last month’s median price in the 43551 was $154,000.
A 21% drop.
That’s a lot. Not as much as Toledo has seen. Not as much as Maumee has seen (who needs the Ding Dong anyway when your house is worth more . . . ?).
32 closed residential sides last month.
The pain is coming from the huge number of bank owned/REO listings now coming onto the market. I just put another one in Perrysburg on the market today.
A more interesting number, at least to me, is the MSI.
That’s the “Months Supply of Inventory”.
This is what I track.
How many sellers trying to sell?
How many sellers giving up?
How many buyers fighting for the same inventory.
I will give you the raw data here:
Note that we are at 8.5 months of inventory now, vs. 10 or 15 or more 2 years ago = a more balanced market.
Good homes are selling. The better they look, the better they are priced – the better they sell.
More later . . .
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