City-by-city price comps
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Vacationers and residents are drawn to this city because of its historical sites, museums, festivals, food and architecture, but it hasn't been able to charm its way out of the housing downturn. The number of single-family construction permits dropped by 34 percent from December 2007 to December 2008. There's still a 38-percent difference between actual and equilibrium price, according to Local Market Monitor. | | Median price end of 2008: | $193,800 | | Median price end of 2007: | $204,500 | | Percent change: | -5.2% | | Projected change through Q3 2009: | -1.6% | | Affordability rating: | 0.0 | Foreclosures in 2008:
(1 for every 78 households) | 3,501 | Foreclosures in 2007:
(1 for every 315 households) | 839 | | Change in foreclosures: | 317.3% | | Expected to hit bottom: | Q2 2009 | | Percent drop needed to reach bottom: | -10.3% |
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