I know bad title but I got a little distracted there for a couple of days and slacked off on my market reports. I’ll get all the cities done by the end of the month for those of you waiting for the smaller metro areas right now.
Onward to Aumsville.
Aumsville hadn’t been as hard hit as some of the other metro cities. With the affordability that the city offers, as well as the fact that it qualified for USDA home loans, home buyers were able to get 100% financing out here.
This was really the first year that we saw a decent drop in the average and median home prices in the city. The average home price dropped 8.7% to $188,467 and the median shifted downward 7.7% to $193,500.
Home sales were down just a bit over 2009 and the number of homes listed was up just a bit. The supply and demand imbalance isn’t as great as it was in some years past, but inventory is still off in this area.
At the beginning of 2009, I felt the Aumsville market was heading in the right direction. The Home Depot distribution plant has just started hiring and so there any effects from that on the Aumsville real estate market aren’t felt yet.
I do think that there will some volatility in the market in 2011, but how much remains to be seen.