Spring 2007 Statistical Summary

In preparation for getting this site up and running, we established a database and entered some preliminary data in January 2007. Then in May we updated that information. In the future we plan to update data weekly. For now, lets look at a few of the numbers we have from our first update. (Future updates will include more information, this is just a partial sample.)

Our initial sample only included 495 houses for sale in January 2007, no vacant lots, commercial properties or rentals were included. At that time the peso was trading at about 10.8 per US dollar, and that is the exchange rate we used to convert peso values. All prices quoted here are in US dollars.

• The average home asking price in January 2007 was $295,946.81
• Of 495 listings in January 2007, 293 (59.2%) were still listed in May 2007
     (Most of the other 202 probably sold, but we have no way of knowing for sure.)
• Of the 293 still listed, 48 had been lowered in price, and 12 raised prices
• The average price of the 202 houses no longer listed was $255,726.30
• The average price in Jan 2007 of the 293 still listed was $314,947.77
• The average price in May 2007 of the 293 still listed was $309,060.96
• There were 211 new listings added between Jan and May 2007
• The average price for all 502 active home listings in May 2007 was $288,138.68

Taking a closer look at those houses for which prices were changed between Jan and May of 2007, we see that:

• There were 48 homes that listed a lower asking price:
  • One of those reduced the acreage by 40% and price by 42%, so it was not included in these calculations.
  • Of the remaining 47, the largest dollar reduction was $310,000
  • That same listing had the largest percentage reduction as well -- 23.7%
  • The smallest dollar reduction was $3,500 on three different listings
  • The smallest percentage reduction was 1.8%
  • The 47 reductions amounted to $1,525,923 for an average of $32,466.45
  • Three price reductions were 15% or more of the original asking price
  • The average reduction was 8.8% of the original asking price
• There were 12 homes that showed higher asking prices
  • 7 of the 12 appear to be new homes -- builders often offer a pre-construction discount
  • The largest dollar increase was $35,000
  • That same listing had the largest percentage increase as well -- 17.9%
  • The smallest dollar increase was $400 (correcting a typo perhaps?)
  • The smallest percentage increase was .3% on two listings
  • The 12 increases amounted to $157,977.78 for an average of $13,164.81
  • The average price increase was 4.8% of the original asking price