McDowell Mountain Ranch Annual Home Sales

It looks as though 2007 is going to end up very close to 2006, as far as home sales go in McDowell Mountain Ranch. Given all the Pending Sales as of December 1st close escrow in 2007, we will have 210 home sales for this year in McDowell Mountain Ranch. That is only slightly lower than the 216 sales of last year. However, sales have dropped more than 50% from the peak in 2003. Oh, shocked you there, huh. You expected 2004 or 2005 as a peak? Many people are unaware of the fact that the inventory of homes for sale was diminished by high sales in 2003, that sparked the run up in 2004. Then in 2005, even though price rose all year long, so did inventory levels. Looking at the graph, we see today's sales levels are 27% below the sales in 2000. Sooner or later the buyers will come back to into the market. That will increase sales, lower inventory and move this market from a buyer's market to a more neutral market. Well buyers, you have a great selection of homes, interest rates are back below 6% and you are in control. Get out there and buy a home!