More of the same...

Helped by activity earlier this year, sales of land, lots and farms in Dekalb County were still up through June, compared with a year ago. Year-to-date sales grew 32 percent, with 74 land parcels sold, 19 more than the 55 which changed hands during the first half of 2007. Prices are down, however: the average sale tallied $50,871 now, compared with $72,096 a year ago.

Sales for the month, however, were off more than a third compared with June 2007, subject to the same downward trend which has pinched the home market here. Seven parcels were sold last month, 11 during June 2007. Average sales price was also down: $50.414 against $66,872 June 2007. There’s a lot more available as well:RealTracs reports an average of 584 active land listings January through June. For the same period a year ago, the average was 447. Last month, the daily average for active land listings was 617.

Home sales have not yet begun to emerge from the recent downturn, although higher priced lake view properties and vacation homes may bot be as prone to the softness of the current market. Overall home sales through June are off 27 percent, although the average sales price for the year is up. The MLS report shows 95 listings have sold this year, compared with 130 closings during the first six months of 2007. Average sales price this year tallied $150,842, compared with $138,949 last year.

June’s sharp decline contributed to the overall decline for the year so far. The month saw a 48 percent dip in sales, to 12 last month from 23 closings recorded June 2007. June’s average home sale price was also off significantly, down more than $35,000 from the $171,277 average selling price a year earlier to $134,625.

It’s been a tough year so far—there’s no other way to put it— and it may continue a while longer. Sooner or later the market will start it’s turnaround. Until then, if you’ve got good credit and a solid down payment, you should have little trouble finding a seller who’s eager to negotiate.