December Statistics For the El Paso Real Estate Market
January 28, 2009
The second positive one year change occurred in December 2008 for El Paso. There was a .28 percent increase in sales over December 2007.
There was a 20.78 percent average monthly drop in 2008. The two-year drop was even worse with an average drop of 31.73 percent from 2006. El Paso experienced over 19 percent drops in comparative two year sales every month in 2008. There was a 34.59 percent decrease in December 2008 from homesales in December 2006.
The average and median home prices rose from November, and from December 2007. The average price rose 4.1 percent to $159,900 over December 2007, which had an average price of $153,600. The median price increased to $136,300 from $133,500, or 2.1 percent.
A look at price range distributions is not particularly positive. Only one range was positive.
Homes above $500,000 had sales increase by 8.71 percent; however, in nominal figures this is a difference of less than five homes. Home priced between $100,000 and $160,000, a range including the average and mean home prices, dropped by 15.63 percent. This range accounts for 41.6 percent of 2008 sales, but only 40.2 percent in 2007; however, the number of sales was so low this year, the real numbers dropped.
Comments
Got something to say?