Friday, July 13, 2007

Half Year Stats

Our year is half over and the real estate market has been kind of sluggish, but here are the stats for June.

New Listings... 1498
Homes Sold..... 554
Inventory... 2.7 Months
Average days on Market.... 80
Average Sales Price..... $166,653

Let's compare to June, 2006

New Listings... 1088
Homes Sold... 755
Inventory... 1.4 Months
Average Days on Market... 50
Average Sales Price...$152,399

As you can see inventory is up but so is the average sales price. It is certainly more a buyer's market, but we aren't losing value. Homes are still selling but at a slower pace. What does it mean to you? If you need a faster sale you need to be willing to price your home realistically and be flexible on terms. You can still get a fair price, but it may take you a little longer to sell. Plan accordingly.

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