Consumer Confidence is UP

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The Consumer Confidence Index rose 5.6 points to 57.9 in April reaching its highest level since September 2008 when this country began its slide into the recession.
Consumer spending has turned up despite low confidence. Healthy gains in spending increased overall retail sales to an 11.03 percent annual rate during the first quarter, with spending rising for motor vehicles and a broad assortment of spending categories.
Long term unemployment also remains at heights unseen for decades. The Consumer Confidence Index will not regain the highs seen prior to the recession until hiring picks up enough to boost consumers’ perception about the availability of jobs.

Even here in Alexandria, it appears that attitudes and the confidence are steadily getting better.

Source: Consumer Confidence Board and Wells Fargo Securities, LLC

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Residential Sales Statistics-Alexandria, MN: Quarter One. 2010

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In doing the first quarter sales stats for the Alexandria, MN area, I believe my own pulse of the marketplace was confirmed by the numbers, take a look:

RESIDENTIAL SALES
There were 54 sales in the residential category in Douglas County, compared with 40 sales last year. Seven of the 2010 sales were lender owned, compared with 13 for 2009 as being lender owned.
In 2010, there were 10 sales in January, 15 in February and 29 in March.
In 2009, there were 11 sales in January, 16 in February and 13 in March.

In 2010, 15 sales were $0-$100k
17 sales were $101-$150k
9 sales were $151-$200k
10 sales were $200-300K
2 sales were over $300k

Previous 1st Quarter Sales look like this:
2010 – 54 properties sold
2009 – 40
2008 – 53
2007 – 71
2006 – 61
2005 – 60
2004 – 58
2003 – 59
2002 – 66
2001 – 41

LAKEHOME SALES
There were 10 sales of Lakehomes in Douglas County in 2010 in the first quarter. Compared with 10 sales last year in D.Cty, there was virtually no change in the sales activity.
Only one of the sales was lender owned in 2010. I don’t have any data showing that any of the sales last year in the first quarter of 2009 was lender owned.

Sales Pricing for 2010: 1 Sale under $250k
5 Sales $251k-$400k
1 Sale from $401k to $500k
3 Sales over $500k

Sales Pricing for 2009: 3 Sales Under $250k
4 Sales from $251k to $400k
2 Sales from $400k to $500k
1 Sale over $500

Previous lake home sales in the first quarter would look something like this:
2010 – 10 sales
2009 – 10 sales
2008 – 12 sales
2007 – 15 sales
2006 – 15 sales
2005 – 18 sales
2004 – 24 sales

LAKELOT SALES
In the first quarter of 2010, there were 4 lakelot sales. All sales were under $70,000. It appears that two of the sales were lender owned.

Last year in the first quarter we had one sale for $118,000 on Lake Burgen.

BARELAND & RESIDENTIAL LOT SALES
In the first quarter of 2010, there were 14 properties sold. Thirteen of those sales were under $100k, with one posted as a lender owned.

In the first quarter of 2009, there were 5 properties sold. Two of those sales were under $50k, the other three were over $100k.

Previous sales data for 1st quarters:
2010 – 14 properties sold
2009 – 5
2008 – 11
2007 – 19
2006 – 23
2005 – 26
2004 – 19
2003 – 25
2002 – 20

CONDO/TOWNHOME SALES – LAKESHORE
First Quarter of 2010, there were no sales in this category. Last year, 2009, there were 2 sales in the first quarter.

CONDO/TOWNHOMES SALES – RESIDENTIAL
First Quarter of 2010, there were 7 properties sold in this category. This was the third best year in the past decade, take a look:

Total sales posted in the first quarter:
2010 – 7 closed sales
2009 – 2
2008 – 10
2007 – 3
2006 – 11
2005 – 3
2004 – 5
2003 – 6
2002 – 3
2001 – 1

An interesting compilation of data. It appears that there are plenty of “green shoots” out there. I would tend to continue thinking as I have, that we are seeing the bottom of the market. Also, as Alexandria, MN continues to gain popularity as a Regional Center, that the future real estate numbers will overshadow the data that we are currently looking at. Again, only time will tell, but for the most part, most of these numbers are pretty darn impressive considering we just came out of the worst recession in over 50 years. The tax credit will bolster the numbers even higher in the second quarter, probably eclipsing all previous numbers. Check this site out in July…I’ll still be here.

Source: Greater Alexandria Area Association of Realtors Multiple Listing Service.

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Consumers More Confident in March

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Consumer Confidence jumped more than six points in March to 52.5.  The bounce back from the unexpectedly large decline in February is encouraging for the Amercian economy.

Source:  The Conference Board

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