RE/MAX Silver Advantage Blog

The Silver City Regional Association of REALTORS just released the SOLD statistics for 2010.

302 properties were sold in 2010 compared to 251 in 2009.   The dollar volumn in 2009 was $31,851,974 while 2010 recorded $43,259,671 in sales.   The average price in 2010 was $143,244 while in 2009 it was $126,900.   The median price in 2010 was $125,000 while in 2009 in was $119,000.   Days on the market in 2010 were slightly higher at 242 with that number being 240 in 2009.

So overall the market is improving.   I look for more sales in 2011 than were recorded in 2010 as we see some economic recovery to our local area.

As the new year begins, it is a good opportunity for you to get a fresh start.   Many people use this time to evaluate where they are in life and where they want to be.   With the economic downtown of the past few years, many folks find themselves not where they wanted to be.

But this could be the year for opportunity.   Before interest rates rise and there is still good inventory in the real estate market, it is perhaps the best time in your lifetime to purchase real estate as an investment.  

Recently in our market, rentals are becoming scare for those who find they must rent for one reason or another and cannot purchase.   If you are in a position to purchase, this could be a prime opportunity for you to purchase and let a renter be making payments for you.

To check out some of the opportunities that await you, contact a REALTOR at RE/MAX Silver Advantage and let them help you make a fresh start to a new year!

As we anticipate the holidays, our focus draws us to  HOME and all that it means to each of us.

Many folks want to be HOME for the holidays.   As we celebrate in our homes we are mindful of the many Amricans who have lost thier homes this past year in this foreclosure crises.   When homeowners find themselves in this situation, one of the first questions they ask their REALTOR is “when can I buy another home?”   HOME is the center of our lives.  

If you are celebrating the holidays in your home, remember to be thankful for that opportunity.   May God bless you and your family and we wish you a very Merry Christmas!!

Here are the numbers for the Silver City Regional Association of REALTORS as of November 29, 2010.   Residential properties listed 355, Land listings are at 543, commercial listings are 46, multi-family listings are 11 while there are 18 farms and ranches listed.   Currently there are 44 pending sales in our Multiple Listing Service.

As of today, October 31st, there are 357 residential listings in our MLS, 536 land listings, 44 commercial listings, 11 multi family listings and 19 farm and ranch listings.

There are 39 pending sales or properties that are currently under contract!

I expect you will start to see this change especially with pending sales as the community recently recieved the news that Freeport McMoRan Copper and Gold is re-opening Chino Mines and hiring 570 people.  

I think you will see this first impact our rental market and by spring/summer you will see an increase in sales market.

In my opinion, the bottom of the market may have already passed and while there are some deals still on the market, the market is beginning to change!

As of October 21, 2010, there are 363 residential listings on the market.

There are 38 pending sales in our multiple listing service.

There were 4 properties that closed this week.

The good news for our area is that Freeport McMoRan Copper and Gold announced today that they are reopening Chino Mines and hiring 500 people!   That is great economic news for Grant County!

Third quarter sales stats were released this week for the Silver City Regional Association of REALTORS.

There was 1 commercial sale, 12 land sales and 60 residential sales.   In residential sales the  average price was $169,325 and the average days on the market is 240.

Regarding the land sales, the average price was $56,100 and days on the market is 219.

Sales are down a little from the 3rd quarter of 2009, residential sales are a few more with land sales down almost half from a year ago.

Days on the market this quarter are 236 and a year ago it was 220.  

While there is some improvement in the market in 2009, it is still a slow market.   Time will tell what will be “normal”!   Interest rates are at historic lows and there is still inventory.   Good time for buyers to make a move!

One of the highlights of Grant County is the Cliff Gila Grant County Fair.   It is a great time to meet new friends, re-acquaint yourself with old friends and support the youth of our county.

These kids have worked many hours and sacrificed to raise show animals.   It is such a joy to watch these kids enter the show ring with hope as they exhibit the animals they have worked so hard to raise.  

The fair begins Wednesday, September 29th, so check the schedule for your favorite events and travel to Cliff to support those younsters!

What does this have to do with real estate?   Community is real estate!

As of 9/27/2010, there are 364 residential properties on the market, 534 land listings, 43 commercial listings, 8 multifamily listings, and 19 farm and ranch listings for a total of 968 listings.

There are currently 35 listings under contract.

Many people are wondering what the real estate market in Silver City is doing!   Each week we will post some of the numbers from our local market so you can make your own judgement about the local market.

As of today, there are 990 active listings in our Silver City Regional Association of REALTORS Multiple Listing Service.   There are currently 31 pending sales.   This means properties where a buyer has made an offer and the seller has accepted.   It is usually waiting for contingencies of the contract to be met.   Some of those could be lender requirements, a survey, an appraisal or a home inspection.

From January 1 to today, September 16th, 2010 there have been 233 properties sold through our MLS.     In 2009, there were a total of 260 properties that sold in our MLS.   While we enjoyed pending sales holding steady in the 50′s earlier in the year, I believe we are seeing that “pending” number decline steadily as we head to the end of the year.   How low will it go or will it rebound – watch and see!