The Occupy Wall Street protestors and the 99% majority sure have stirred the pot not only in our country but worldwide. In fact, we in Douglas County had our own demonstration on the 15th of October where about 200 people walked from downtown to the Garden Valley area. According to a recent CBS poll over 73% of Americans agree with what these protestors stand for even though they do not believe in their tactics. I know that most of us feel that our voices go unheard in Congress and with the dire condition of our economy, we are all getting very frustrated and fed up with our leadership not only in the White House, Congress but in our corporate world as well. Many of us have seen our incomes drop considerably over the past few years where we have all had to adjust. I realize that many of our money policies needed to be reformed but in the interim the feds are becoming way over zealous in their attempts to correct those policies.
Real Estate trends in Douglas County continue on the rise which is great news. The average sales price increased by +9.1% when you compare September 2011 to a year ago. ($157,600 to $144,400) However, the average sales price year to date went down slightly -0.2% from $154,100 to $153,800. We are seeing more offers written and more sales close up +17.1% (82 v.70) This is great news for our sellers which means that sales are increasing. As we all know by now, sales are a direct result of demand and price. I feel that the majority of buyers are starting to have renewed confidence in the value of purchasing a home to live and raise their family. Most buyers have decided to buy, with historically low interest rates and the willingness of sellers to cooperate in paying for some if not all of the buyers’ closing costs, making them feel better about their purchase.
Pending sales jumped a whopping +137.5% in Northeast Roseburg, followed by Myrtle Creek at +100%, then Northern Douglas County at+ 83.3% and Winston Dillard at+ 75% with the Winston area at+ 45.5% as you compare the month of August 2011 to the month of September. The biggest drop in pending sales occurred in Northwest Roseburg at -43.8%, -25.0%in Southwest Roseburg, -25.0% in Glide and down -20.0% in Southeast Roseburg. Closed sales in the month of September were at the same level they were in 2007 which is wonderful news.
Currently we have 13.1 months of inventory remaining on the market for sale in residential. This is down from last month which was 15 months and down from 2009 when it was 15.3 months and 18 months in 2010. These trends are another good sign that our local real estate business is headed in a positive direction.
Please remember all of our men and women in uniform and their families in your thoughts and prayers for the sacrificing they are making to keep us safe and free. Enjoy your Halloween and remember to “Trick or Treat” on the 31st and have fun.