Local real estate sales slower, but steady

Despite a drop in home sales experienced nationwide, local realtors remain positive about the Fairfield and Jefferson County market.

?I don?t think we?re in too bad of shape,? said Jim Horras of ERA Fairfield Real Estate Inc.

Terry Hayes of Century 21 Hayes Heartland said the year got off to a slow start, but ?things are picking up.?

According to data from the Jefferson County Recorder?s Office, the total number of property sales, residential and commercial, including contract and deed sales, was 915 in 2007, 846 in 2008 and 207 so far this year for all of Jefferson County.

According to information supplied by Hayes from the Fairfield Multiple Listing Service, 77 residential properties in the Fairfield area had been sold in the first half of 2008 compared to 46 during the same period this year.

However, Hayes noted only seven sales were pending at this time last year, while 21 sales are pending this year. The large number of pending sales will bring this year?s data more in line with last year?s, Horras said.

He said real estate sales may have gotten off to a late start in Fairfield because people were waiting to see how the closure of Books Are Fun, as well as the state of the national economy, would affect the area.

?I don?t think anyone is diving into any situation,? Horras said.

Jefferson County Assessor Sheri Blough Neff said she started noticing a slowdown in sales in October and November, but sales have remained steady since. Although sales have slowed, she said the quality of sale prices is still good.

According to MLS data from Horras, the average sale price for homes from July 2007 to July 2008 was $113,308 ? 132 residential properties were sold during that time ? and the average sale price from July 2008 to July of this year was $116,260 ? 102 residential properties were sold in the past year.

For the complete article, see the Friday, July 10, 2009, print edition of The Fairfield Ledger.