• 346 homes were sold in December versus 344 in November – Flat for the month and up 49.6% since January!
• Average home prices rose sharply in December with the average price rising to $158,090 versus $148,841 in November- a 6% increase. Average sales price for the year $158,090.00.
• The time it takes to sell a home rose 5 days to 91 days in December versus 86 in November- a 7% increase.  Average time for the year is 93.2.
• Supply of available inventory remained the same in December. At the end of November there was a 15.66 months supply of homes, in December it was 15.20 – virtually unchanged. Average supply for the year is 14.17 months.

“After an unexpected drop in sales in November we were braced for the worst in December. However, sales remained firm and the average priced home spiked 6%. With the expanding use of the first time homebuyer tax credit average sale prices have been dropping since June. The credit was set to expire in November and was extended to 2010. We believe the extension took some of the steam out of the market allowing November closings to roll over to December. Following that logic through, December sales could have been artificially higher, couple this with a traditional seasonal drop in sales in January and we are forecasting January sales to be lower. The market remained under $200,000 in December with most areas sales remaining unchanged. Significant moving areas in December; Cottage Hill, Theodore and Montrose were notable on the downside, Central Baldwin, Gulf Shores and Springhill led the upside. Praytor Realty led all companies with listings sold in the Springhill area with Sullins Arendall leading our sales in December. National and local economic news continue to improve pointing towards a solid year in 2010. That having been said, unseasonably cold temperatures starting the new year coupled with a traditional seasonal drop in sales in January we are expecting 2010 to start soft and build forward.” Tommy Praytor, President, Praytor Realty, Co., Inc.