If you're trying to sell your home right now you're most likely playing the waiting game. Thousands of layoffs across the city have saturated the housing market, and put some areas in a virtual stand still.
This time last year homes worth around 200,000 dollars could sell within days. This year the average sell time is about 5-to-8 months.
That is a long time if you are the seller, but it is good news for the buyers out there. There are many homes to pick from and the prices are falling everyday.
If you're a buyer, you also have a chance to invest in something tangible at a bargain price. Prudential agent Kay Deen Patterson says her buyers want a change from the stock market roller coaster. "The people that are looking are buying because they feel that real estate is the one true investment they can depend on."
But as with other agents and their sellers quick timing is still something they can't depend on.
In years past homes with high price tags would go to people relocating from other areas. These days they're selling to people already here, looking to move up.