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December 2005 BloodhoundRealty.com
Market-Basket of Homes: Values up 1.73%

For the month of December 2005, the values of resale homes monitored by the BloodhoundRealty.com Market-Basket of Homes jumped by an average of 1.73%, over $4,500 on average. Sales prices on the 188 transactions monitored averaged almost 1% less than asking prices, a level of discounting not seen since March of 2004. This suggests a lingering softness in the market, even amid rising prices. The 12-month increase in average sales prices was 45.68%, leaving the owner of an average Market-Basket home almost $85,000 richer.

Based on the idea of the Consumer Price Index market-basket of goods and services, the Market-Basket of Homes uses average sales prices for a small subset of all Valley home sales to get a clearer idea of what is happening in the middle of the bell curve. The alternative method, striking a median among all closed transactions, introduces too many extraneous factors to provided a reliable indicator of what is happening to prices for those homes that are most avidly desired by the greatest number of people. To that end, the Market-Basket of Homes looks at sales prices for MLS-listed suburban homes from 1300sf to 1900sf built in 1998 or later, the homes that drive the resale market.

The BloodhoundRealty.com Market-Basket of Homes is updated monthly and is always available at http://www.BloodhoundRealty.com/MarketBasket.pdf


Contact: Greg Swann, BloodhoundRealty.com, 602-740-7531