Tri-Cities Market Real Estate Stats – August ’08

By in Tri-Cities Housing Market with 0 Comments

I had a theory a while ago that the lower end of the market was collapsing, leading to fewer overall sales but not an enormous decrease in our average sales amount.

Home Sales Chart

Let’s take a look at August in ’06, ’07 and ’08, and compare sales in the $0-$99,999 (A) range, the $100,000-$124,999 (B) range and $125,000 – $149,999 (C) range.

The SOLD numbers really reflect business in July, because things written in July close in August.  The percentage given is the portion of the entire market reflected in sales in that price point.

’06                            ’07                     ’08

A – 9%                      11%                     9%

B – 9%                      6%                       12%

C -17%                    17%                      20%

So, there goes that theory.  Under contracts, which are deals written in August, closing in Spetember tell a slightly different story, however.

’06                          ’07                       ’08

A -10%                   16%                     15%

B -13%                    11%                       8%

C -18%                    22%                     17%

But I don’t think the numbers are THAT significant.  I guess I am looking for a dramatic, sweeping change in numbers across all ranges, and I don’t see that.

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About The Author
Cari McGee

My husband and I came to the Tri-Cities in 1994, and we thought it would be a temporary stop on our way to larger cities. He was a television sports anchor at the time, and we planned to go wherever the "next step up" took us. Twenty-plus years later, we're still here and we've loved every minute of it! We have two children now, and we've found the Tri-Cities area is a wonderful place to raise a family. It's a great place to do outdoorsy things -- I like to hike Badger Mountain or run along the river path. I also love reading ... by a cozy fire in the winter or a beautiful picture window in the summer (with the A/C on!). I've been a licensed Realtor since 2004. I earned my managing broker's license in 2016, which means I can run my own brokerage, or create a team of real estate agents and supervise them, which is exactly what I did when I formed the Cari McGee Real Estate Team in 2018! We have administrative and marketing personnel, as well as additional agents to serve you. I became a director of the Tri-Cities Association of Realtors Board of Directors in 2016, became Secretary/Treasurer of the organization, and was elected to Vice President in 2019. Want to talk about real estate? Click here to schedule a meeting with me!

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