2007 Home Sales in Bay County Top 2006 in Numbers, Dollar Volume
Bay County Realtor Association Reports 1,415 Sales Totaling $131 Million
January 10, 2008
By: Dave Rogers
Elegant Center Avenue Tudor Home is lit dramatically on a winter evening.
The most expensively priced home in Bay County is this (top) Frankenlust Township estate at $1.6 million, while a $1.5 million bay front home has this (bottom) 50 foot indoor lap pool.
What slow economy?
Home sales were pretty good last year, the number of sales second highest in history in fact, the Bay County Realtor Association (BCRA)reported recently.
Bob Adamowski, executive director of BCRA, has posted statistics on the group's website showing 1,415 home sales and total volume of $131,249,073.
Mr. Adamowski added: "Only the average price of a home showed a decline, from $102,789 in 2006 to $92,756 in 2007. It's no secret that foreclosures have played a part in the reduction of the average selling price but it has also made the market more affordable to many more buyers. Therefore, the current Bay County market should be looked at as a positive, rather than a negative in that respect."
The total number of home sales was behind only 2005, with 1,437 sales, he said.
Dollar volume in 2007 was fourth, behind 2003 with $135 million, 2004 with $150 million and 2005 with $153 million.
"Actually, real estate has held up quite well in Bay County despite the downturn in the economy that is the common perception," said Mr. Adamowski.
These figures compare with 1,236 sales for $129,822,150 in 2006, the report reveals.
There are currently 1,532 active listings on the market, according to BCRA statistics. Broken down, there are 1,276 homes, 200 lots and land and 56 income properties for sale at present.
In addition to home sales, about 100 commercial sales were recorded through BCRA, boosting total volume by about $5 million. Many commercial sales are done independently of the organization.
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