For the first time in 11 years, we saw a drop of median sales prices over the same period last year. I live in a townhome and bought my place a bit less than a year ago. My next-door neighbour is selling his. His unit and mine have the same square footage and floor plan. He listed his in July for $35,000 over what I paid for. I wish he sold it at that price. Over the last 3 months, there was literally no traffic from anyone who might have any interest. I check his current list price and it dropped $$15,000 already. In my neighborhood, for sale signs are everywhere and they keep popping up.
Anyone in the marketing buying or selling?
What is smart, what is stupid, and what is a fraud ...
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I'm trying to sell my wife's townhome in a MN suburb and it's not going well. We've dropped it to close to what she paid for it 2 years ago. Now I know that townhome's don't appreciate as fast but its been on the market 5 months and we get a few calls but no offers. There are about 5 or 6 others in the same range and were near the low end. And the quality of the home is like new. New floors, all fresh paint so I fear the market has slowed and people are on hold. The supply is too high and I just hope it picks up soon because we're sick of paying 2 mortgages!
Darren | www.sdlifecycle.com