Wiregrass Market Report
Enterprise, Daleville, Ozark, New Brockton, Elba, Fort Rucker
October 2008 Market Recap Report
authored by: Michelle Tucker
Moving to the Fort Rucker / Enterprise AL area? Have you considered buying a home or selling a home in the FT Rucker area? Knowing the housing market and the real estate trends will guide you in making informed Real Estate decisions. The Wiregrass Market Report is designed to do just that.
During the months of 2008, the housing industry has been on an unpredictable roller coaster ride. The October 2008 Wiregrass Real Estate Market Activity for the Enterprise Alabama, Fort Rucker & surrounding area will help keep you informed on the real estate activity. In this edition, I will include a month to month comparison highlighting the housing trends since January 2008. The housing market is rapidly changing, subscribe to the monthly Market Report for the Ft. Rucker, Enterprise and Wiregrass area to keep informed.
During the month of October there was 132 homes listed (145 last month) in the Wiregrass MLS. The average list price was $169,720 compared to last months $163,654. Single family homes accounted for 109 of those listings, 19 were town houses, 1 Duplex and 3 were manufactured homes. The Wiregrass MLS (WBMLS) total Dollar Volume for new listings in the month of October was $22,402,981.
Single family homes average listing price was $180,137 and a median price of $158,400.
During October 2008 - homes in the Enterprise AL and the Wiregrass surrounding areas average sold price, based on the Wiregrass MLS listings, were $141,265 (up from last month’s $123,549) with a median price of $131,175. The total Dollar Volume of $10,171,265 reflected homes sold during the month of October 2008 in the Wiregrass area, compared to September’s Dollar Volume of $9,019,100.
October 2008 yielded 72 homes sold, not far off from the 73 homes sold in September. When homes go to closing, ownership changes hands and the new owners are listed on the tax records recorded at the Coffee County Courthouse.
The Average days on the market (DOM) for the month of October 2008 was 134 days compared to 128 in September of 2008.
Current Conditions as of November 18, 2008:
Active listings: 813
Pending Listings: 89
Subject to leases: 24
The Absorption rate in the
Enterprise / Fort Rucker and the surrounding area is 50 weeks or approximately 12 months of inventory if the current conditions remain unchanged and continue to sell at 17 homes per week.
An absorption rate is the ability of the real estate market to sell off all of the houses that are for sale in Enterprise / Fort Rucker and the surrounding area of
Coffee and
Dale County.
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