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November 10, 2008
Rockwall Market Profile Last Week This Week Market Trend
Number of homes listed for sale 617 625
Number of homes sold year-to-date 762 816
Number of homes sold last 30 days 63 51
Average days on market 157 168
Number of new building permits 0 0  
Average sales price 285280 268
Average list price 278000 279
Percent of price decreased 47 42
Median living area (sqft) 3028 3051  
Median number of bedrooms 4 4  
How's the market? Stable Slowing
Interest rate trend Good Still Good
Price Range Listed Sold (YTD)
$100,000 - $199,999 198 365
$200,000 - $299,999 149 203
$300,000 - $399,999 87 111
$400,000 - $499,999 62 42
$500,000 - $749,999 83 46
$750,000 - $999,999 27 9
$1,000,000 - Up 19 12

For those of you who regularly check this page for information, I apologize for being a little lax the last couple of weeks.  I was in Florida for the birth (and helping mom) of my two new grandsons.  But, I'm back now and right back in the action.

It's been an interesting week with the elections finally over and the dust beginning to settle.  All that being said, we are now heading in to the time of the year when home sales traditionally slow down, so it may be a bit difficult to tell if any of the economic stimulas package is helping or not unless sales pick up drastically.

I have heard from more than one person who has said they were waiting on the elections to do anything and I believe that is the mentality of many and I also believe, regardless of who won, we will see renewed interest in purchases by those who have been on the sidelines.

Our market continues to be pretty stable as you can see by the numbers posted here.  One item of note: for several months now buyers have been enjoying both lower home prices (great deals) combined with lower interest rates.  I believe this window of opportunity is closing and could come to an abrupt halt if the rescue package goes through where the government will take over troubled mortgages and putting a hold on foreclosures.  There is still time and I would encourage anyone who is toying with the idea of home purchase because of the great deals to become more active in this pursuit.