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Ardsley Park in Savannah Ga -- Surprise Findings

It seems I may have been victim of the same psychology that affects buyers when there is constant talk of a down market. I thought the market WAS slower this past year than the previous two years. However, I like to check the numbers to make sure what I am thinking is factual. In this case I was doing research for a client who wants to know about the market conditions as they affect one particular area, Ardsley Park. I was surprised. The following numbers are taken from three different time periods: between 8/7/2004 - 8/7/2005, between 8/7/2005 - 8/7/2006, and between 8/7/2006 - 8/7/2007.

For the 2004-2005 time period 82 listings were sold in Ardsley Park
For the 2005-2006 time period 83 listings were sold in Ardsley Park
For the 2006-2007 time period 83 listings were sold in Ardsley Park

That's pretty dang consistent. But there is more!

For the 2004-2005 time period houses sold for an average 95% of asking price.
For the 2005-2006 time period houses sold for an average 96% of asking price
For the 2006-2007 time period houses sold for an average 95% of asking price

Again, pretty dang consistent. But there is more!

For the 2004-2005 time period the average square footage was 2,132.
For the 2005-2006 time period the average square footage was 1,998
For the 2006-2007 time period the average square footage was 2,014

So, we are comparing tangerines to tangerines here - the avg was 3 bedrooms, 2 baths. You guessed it, there's more! It gets better.

For the 2004-2005 time period the average asking price was $292,029 -- average sales price was $276,950
For the 2005-2006 time period the average asking price was $305,027 -- average sales price was $289,681
For the 2006-2007 time period the average asking price was $310,783 -- average sales price was $295,618

I was even boring myself, but actual sales numbers are more interesting. So far, I don't see any "down".

Even the number of days on the market is surprising -- respectively, they are 87 for 2004-2005: 86 for 2005-2006; 97 for 2006-2007

At least here in Ardsley Park, the numbers are healing me psychologically. I'm not whistling yet, but I am humming.

Until later, 

Mike From Savannah

 

 

Published Wednesday, August 8, 2007 8:53 AM by Mike Farmer

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