| Trends at a Glance | |||
| (Single-family Homes) | |||
| Apr 08 | Mar 08 | Apr 07 | |
| Median Price: | $410,000 | $430,000 | $760,000 |
| Average Price: | $709,705 | $701,513 | $1,056,400 |
| Units Sold: | 179 | 110 | 118 |
| Inventory: | 2,685 | 2,611 | 2,675 |
| Sale/List Price Ratio: | 95.4% | 94.6% | 96.6% |
| Days of Inventory: | 450 | 712 | 680 |
| Days on Market: | 90 | 105 | 108 |
Sales of single-family, re-sale homes took off last month, rising 62.7% from March. And, for the first time since September 2005, home sales were up year-over-year: 51.7%.
The median prices for single-family, re-sale homes fell for the second month in a row, dropping 4.7% from March, a difference of 46.1% from April 2007. This, combined with the large gain in sales leads us to believe that bank-owned properties were a large part of the sales recorded last month.
The median price for condos lost 7.4% from March, and was down 9.7% year-over-year. There is really nothing to read into this number as condo sales are so few that this number will, and does, fluctuate wildly from month-to-month. There were 9 condos sold in the county in April, a drop of 30.8% month-over-month, down 2.1% compared to last April.
Inventory continues to increase as we enter the spring selling season. The number of homes on the market rose 2.8% compared to March, up 0.4% year-over-year. Condo inventory, on the other hand, fell 3.7% month-over-month, and was down 2.1% compared to last April.
The sales price to list price ratio for homes gained 0.8 of a point to 95.4%. Days on market for homes dropped fifteen days to 90.
Our Days of Inventory indicator fell 262 days to 450 days.
The sales chart below shows the historic inventory versus sales ratio since January 1998. Click on the chart to expand it, then click your browser's back button to return.
The chart below tracks the change in median and average prices since January 1998. Click on the chart to expand it, then use your back button to return.
The real estate market is very hard to generalize. It is a market made up of many micro markets. For complete information on a particular neighborhood, call me.
These statistics are generated using information from the RE InfoLink MLS, but have not been verified and are not guaranteed. RE InfoLink disclaims any responsibility for the accuracy and reliability of these statistics. This information should not be relied upon for real estate transaction decisions.
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