Our current listing inventory has a 78 unit decrease from last month and we are about 238 units down from October 2007. We have 5,741 single family homes for sale in our MLS. The average list price of $424,201 is up by $57.00 from last month. Our average list price last October was $427,354. If our charts prove correct we will continue to see a small decrease in listing through December 2008.
Monthly Average Sold Price
Our monthly average sold price is down 13.5% from last month and down 14.0% from September 2007. September average sold price ($235,068) shows a decline of just 14.1% from year end 2007. When we look at a rolling 12 months our current average sales price remains behind year over year comparisons. Our current year over year (10/01/07 – 09/30/08) average sold price of $261,887 is 3.0% behind $269,905 of this time last year.
Monthly Sold Units
The number of sold homes in September is down 12.7% from last month. When we look at a rolling 12 months our number of sold unit’s year over year is 5,059 units compared to 6,942 last year this time, a decrease of 27.1%. Our monthly sold units continue to lag behind the last couple of years.
Average Sold Price Year to Date
Year over year our year to date numbers have dipped a little.
2003 year end average sale price $ 186,137
2004 year end average sale price $ 210,048
2005 year end average sale price $ 254,080
2006 year end average sale price $ 264,520
2007 year end average sale price $ 273,701
2008 year to date average sale price $ 256,871
Our 12 month (10/1/07 – 9/30/08) rolling average ($261,887) continues to show us that we are in line with last year.
It really is a great time to buy a home right now. Search for your new home.
My thanks to David Flory with Cunningham and Brokers for this valuable information.
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