Wednesday, January 14, 2009
Finally, some good news from local real estate
Sometimes it hard to see the light when you're so far down in the salt mine, but Watson-Touchstone president Ken Carter says there is good news in local home sales. "There are more deals at lower prices, and that's not a bad thing," Carter told me. Consider: Watson's Realtors sold 241 homes in December compared to 151 the previous year, but the price dropped from an average of $254,000 to $191,000. For 2008, the average price was $226,000, down from $300,000 in 2007. But for folks like Carter, that's terrific news because houses are selling, rates are low and we're working through all that excess inventory. "We're burning through inventory," he said. "I wish you guys would report that! This is good news." We'll take the good news when it comes.