Well it seems my prediction of a real estate recovery early in 2009 is so far true. That's the main reason I haven't blogged in a few days, (I've been busy). The Mercer Tazewell Multiple Listing Service is up 50% in residential sales for the month of January compared to last January. Overall sales are up about $800,000 dollars this month from last year. What was interesting also was our median sold prices and average sold prices are both up. Our average sold price went up 30% from January of last year to January of this year, although comparing the entire year of 2008 to 2007 the average price rose only about 1%. Median sold price went up 60% from January to January, and if you compare the median sold price of January 2009 to the entire year of January 2008 it is up 9.6%.
A prospective customer of mine was discussing a piece of property that he was interested and I mentioned how the market had picked up in Princeton, WV Real Estate, and he proceeded to tell me how horrible it was everywhere. Well the numbers speak for themselves as a market we are up, as an office business is up, and I have been busy writing offers every week so far this year. I hope 2009 stays like January all year and it will be a good year.
P.S. Here's a few more numbers if the first part didn't bore you to tears. Residential property sales are up $1,118,349 from January of 2008 to January of 2009, and number of homes sold is up over 18%.