Sales in December were 374 homes here in Marion County. If you remember my November report I thought sales were oddly low that month with only 266 sales. Apparently it was just a statistical fluctuation. Probably just a result of the time that offers were accepted or the time required to close the transactions.
Just as in previous months, the vast majority of sales are below $200,000- and over half are below $100,000.00. Once again foreclosures and to a lesser extent short sales account for over 50% of all sales.
The total number of listings seem to be pretty constant at around 5,500. As I’ve said many times, our market won’t recover until the number of active listings goes down. If you take 5534 active listings and divide it by the sales in December you get 14.8 months of inventory.
In general 2009 was a huge improvement over the past 2 years. Prices are down but volume is way up. There were 3224 sales of residential homes in Marion County in 2009 as compared to 2008 with 2453 and 2007 at 3169.