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Local homes taking a few days longer to sell

By Angie Hutschreider
angieh@newstribune.com

Average home prices down a little

Published: Wednesday, April 30, 2008 3:15 PM CDT

Homes in the Jefferson City area are taking, on average, three to six days longer to sell this year than they did during the same time in 2007.

That was part of the message delivered Tuesday morning during a news conference conducted by members of the Jefferson City Area Board of Realtors and the Home Builders Association.

Board of Realtors President Alan Mudd said there have been 298 single-family home sales so far this year, compared with 378 during the same time in 2007.

According to Mudd, foreclosed properties currently offered for sale have risen to 4.3 percent and account for 34 listings in the area. Numbers from 2007 were not available.

Comparing January through April, the Board of Realtors also reported:

* The average sale price for homes is $130,479 this year and was $130,721 last year.

* The average list price for homes is $137,349 and was $137,654.

Bill Ratliff, a representative of the Missouri Bankers Association, said one of the biggest problems banks are seeing is people buying homes they cannot afford.

“When you are stretching every dollar to make that payment,” he said, “the American dream turns into the American nightmare.”

Ryan Schrimpf, a Home Builders Association representative, said people buying or selling homes in larger areas are feeling more of an impact from the nation's economic downturn.

“Locally, we are in a great place,” he said. “The vast majority of local homeowners are making their payments and are not in danger of losing their homes.”

In addition to finding funds for their next home, local Realtor Dana Wildhaber said sellers also need to budget money to make repairs to the home they put on the market.

“People are not wanting a fixer-up,” Wildhaber said. “They want a home they can move into.”


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Local homes taking a few days longer to sell

By Angie Hutschreiderangieh@newstribune.com

Average home prices down a little

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By Angie Hutschreider
angieh@newstribune.com