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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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Cari McGee

Hi, I'm Cari McGee. 👋 I've lived in the Tri-Cities since 1994 and I've been a licensed Realtor® since 2004. That's a lot of local knowledge and real estate experience that I put into every article you read on my website! We've helped more than 560 families buy or sell property in the Tri-Cities. In 2023, our community voted us the bronze winner for Best Real Estate Team in the Tri-Cities Best voting. Learn more about me by clicking the link right above. And if you have any questions, get in touch anytime!

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