Home › Forums › Housing › Slow decline or is a big chunk about to be ripped out? › Pemeliza So I went back and
Pemeliza
So I went back and tried to replicate the old numbers and they didnt sync up because I couldnt remember exactly which ZIP’s I used in the original post. I ran new numbers for all years back to 2000. They show what a wild year 2003 was!
2000-1469 2001-1241 2002-1780 2003-1540 2004-1480 2005-1373 2006-1179 2007-1247 2008-885 2009-754 2010-TBD
Here is the averages represented by these sales (i.e. average size, selling price and price/sq ft).
2000 2,380 sq ft $623,605 ($263/sq ft) 2001 2,310 sq ft $652,661 ($291/sq ft) 2002 2,427 sq ft $696,409 ($298/sq ft) 2003 2,438 sq ft $795,486 ($340/sq ft) 2004 2,524 sq ft $1,045,310 ($437/sq ft) 2005 2,477 sq ft $1,154,849 ($492/sq ft) 2006 2,540 sq ft $1,204,233 ($500/sq ft) 2007 2,558 sq ft $1,178,553 ($468/sq ft) 2008 2,597 sq ft $1,193,847 ($464/sq ft) 2009 2,490 sq ft $997,868 ($410/sq ft)
A couple interesting things worth noting:
1.) The increase in the size of the average home by more than 10% over the bubble years.
2.) Getting back to 2000 pricing in the prime coastal areas means a decline in the genereal pricing levels by about 50% off peak.