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Darnestown real estate year-end review
December 29th, 2008 Categories: Darnestown
We love Darnestown and do a lot of business here. Inventory here has been high this year. Especially for homes priced over $1 million, the market has seemed slow. Just looking at sales over the last two years, the total number of sales is down 28%. The first waves of the credit crunch hit in the fall of 2007 which carried into 2008. Compared to last year, sales were down nearly 40% for the 1st half of the year. Sales in the 2nd half were down 14%.
Taking a look at sales by price range, most sales declines have been in the $600,000 to $1M price range — 35% lower in 2008. Sales under $600,000 and over $1M were down 14% and 16% respectively.
As of the writing of this post, there are 33 homes currently available on the market:
- Under $600K – 5 homes
- $600K to $1M – 12 homes
- Over $1M – 13 homes
With the Spring comes new buyers and new listings. Contact us for more information on Darnestown if you are planning to buy or sell here in 2009.