As the summer selling season toodles along, we continue to release detailed statistics on what's going on in the local market because we know there is a lot of interest from our REALTOR members and from the media, local government officials, various research entities and , of course, area residents. In the last several weeks, we have released a lot of new numbers, and we thought we'd take this opportunity to share them with you.
The word on the street is that people like lists more than prose for receiving digestible information. Alright, we can do that.
1. June 2009 saw 5,183 signed purchase agreements, up 33.7 percent
from June 2008.
2. 40.7 percent of closed sales in June were lender-mediated, compared
to 59.7 percent in January.
3. A decrease in lender-mediated market share brought the overall
median price up to $173,500 in June. Despite the increase from May,
that was still a 15.4 percent drop from June 2008.
4. The median June sales price of traditional homes was $210,000,
down 7.7 percent from a year ago.
5. The median June sales price of lender-mediated homes was $124,025,
down 21.9 percent from this time last year.
6. The number of properties for sale at the end of June was 26,204,
down 21.9 percent from this time last year.
7. There were 7.3 months of supply available at the end of June, down
significantly from the 10.6 seen at the same time last year and trending
back down towards a balanced market of five to six months of supply.
8. There were 10.9 months of traditional supply and only 4.4 months of
lender-mediated supply.
9. June's pending sales were the highest June showing since 2005 and
the 12th consecutive month of year-over-year increases.
10. The number of foreclosures and short sales available for sale at the
start of July was 18 percent lower than it was last year at this time,
dropping from 8,163 to 6,685.
11. The number of lender-mediated homes available for sale is dropping
in every price range except above $1 million.
12. Consumers are buying foreclosures in record numbers, with sales
increasing five times over in the last two years.
13. Prices of foreclosures will likely not go any lower.
14. With low mortgage rates and the $8,000 federal tax credit for
first-time home buyers, we're seeing the recent junp in sales spill
over into the traditional market.
15. We still have an abnormally high number of foreclosures and short
sales, but it's an improvement from six months ago.
16. Sellers still face a challenging market, but things look better for them
than they have in awhile.
To see all active MLS listings, please visit http://www.homesbyjoel.com/
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