Recovering Market?

[Terrel L. Shields]

Too few sales to justify regression. Not significant analysis. You are 'winging' it.

Use at least 30 sales and it might have more meaning.

 

[Ken Youngkrantz]

I would suggest expanding the area you are searching and see what that shows. Often I will do the sales in the immediate neighborhood, an expanded area and then the zip code. This may give you a better picture of what the recent uptick is about. I also ALWAYS do average sales price, median sales price and price per square foot.

With the small number of sales you have the days on market are virtually meaningless.

 

[Couch Potato]

Can this be an increasing market like the cma shows?

My data indicates:
07/01/07- 09/30/07: 6 Sales Avg:$120,283, Median: $137,800 ADOM: 120
10/01/07- 12/31/07: 4 Sales Avg:$119,200, Median: $117,900 ADOM: 33
01/01/08- 03/30/08: 2 Sales Avg:$69,100, Median: $67,200 ADOM: 84
04/01/08- 06/30/08: 8 Sales Avg:$82,225, Median: 52,500 ADOM: 103

1.) The data tells me the market bottomed out and is now recovering.

The data tells me the market is still heading down, but the 04/01/08-06/30/08 time period had a high priced sale that skewed the average price upward.