Haile Plantation Real Estate – Have We Hit Bottom?
First off, just let me say that I am NOT an economist. I am NOT an analyst. I am a REALTOR who loves geeking around with the monthly/quarterly/annual sales figures.
Basically, I have no life.
Given those cautionary CYA notes, I just had to share my latest number-crunching foray into Gainesville real estate sales statistics. As you can see from the chart (and accompanying graph) below, after a dramatic free-fall in the number of homes sold in Haile Plantation between 2005 and 2009, the quarterly results for the number of homes sold in Haile Plantation appears to be stabilizing.
This is not to suggest that we are anywhere near a “get down and party” mode…there is still a huge glut of inventory on the market, which will keep a downward pressure on prices until a substantial portion of it gets sold off.
This next chart & graph combo highlights Haile Plantation home price trends from October 2008 through September 2009. Notice the inverse nature of the relationship between number of homes sold and home sales price…..the contrast is most jarring for the month of June, when 17 homes sold and the median sold price was an anemic $226,250.
Tune in later this week for an update on Haile Plantation real estate absorption rates and an analysis of previous 4Q sales trends which might (or might not) help us determine what we can expect for the 4th quarter of 2009.
