|
Housing Recession? Stevens Point
Bucks Trend -
Home Prices have Posted Gains Here
February, 2008
There was a 5.62% increase in the average price
of a valid house sale last year in the City of Stevens Point. The median sale price also increased by 6.67%. Median
is the value that ½ of all home sales were greater and ½ home sales were less.
The number of valid home sales also rose slightly last year as well. There were 379 valid home sales in 2007. This
compares to 375 in 2006 and a record 383 in 2005.
According to Mayor Andrew Halverson, "It is my opinion, based on this factual information, that if the slowing
economy and difficult credit conditions caused by the meltdown in the subprime mortgage market hurt home sales,
it is having less effect on Stevens Point home values than in other areas."
People have been hearing a lot of things about the economy, and there is a certain perception of where values are
headed. But real estate values are not falling here in Stevens Point.
Last year even saw an increase in home sales over $200,000. In 2006, there were 35 sales greater than or equal
to $200,000, and in 2007 there were 44 such home sales.
"It is very clear, based on the diversified economy we have in Stevens Point, that we tend to be a bit more
insulated from major economic swings," stated Mayor Halverson.
See the Data: Stevens
Point Residential Sales Analysis 25 KB pdf File Requires Free Acrobat Reader
|
