Latest real estate numbers show slightly less decline
If you look really hard, there might be a little bit of good news in the county’s November real estate report. According to information compiled by the Douglas County Appraiser’s office, the number of home sales in November were down by 5 percent, compared to November 2007. That decline is far less than what’s been posted in other months. For the year, the number of home sales in Lawrence and Douglas County is down by 31 percent.But real estate watchers would caution that November sales typically don’t amount to much, and probably aren’t much of a bellwether. As I said, you have to look hard. The slowdown in demand in 2008 has led to a drop in home prices, particularly since July. Based on earlier numbers, Douglas County Appraiser Marion Johnson estimated most homes in the county would see a decline in value of 2 percent to 5 percent in 2009. He’s now revised that estimate slightly and now he’s predicting most properties will see a decline in value of 1 percent to 4 percent, depending on the neighborhood. Other numbers from the report: