Happy New Year, everybody. I just finished the January Current Market Conditions report, which includes the year-end Dec. 2007 data for Sullivan County sales. Its a very interesting picture. Sales are down 22% year over year and the average sales price slipped below $200,000 for the first time since March. 2006. But the median sales price, at $165,000, showed a slight pick-up from November’s $160,000 mark, and is likely to tick up to $170,000 next month. That’s great news, since my fear was that the median would continue down. While the average is dropping, that’s more of an indicator of softness in the upper end of the market, and not the bread-and-butter middle.
I’m sure some of the conclusions I’m drawing this month, particularly the differentiation between Wall-Street buyers and non-Wall Street buyers, will generate some controversy on here. That’s always welcome. Please check out my Current Market Conditions Report and drop on back to add your comments.