September Market Action came out yesterday.
Comparing August 2011 to September of 2011
- Slight rise in Inventory up to 6.7 from 6.2 months (10,666 homes on the market)
- Closed sales decreased -12.1%
- Pending sales are down -14.9%
- New listings fell -13.1%
- Sales price activity was mixed with average sale price falling -1.3%, while median sale price increased 2.6%
- Comparing September 2010 to September 2011: Average sales price declined 4.2%
Third Quarter Report compared to 2010, we are showing increased activity in pending and sold homes (up 21.5% & 21.6%) and a decrease in new listings(- 27.6%.) That is why we are seeing a very low amount of inventory compared to the 10.5 months we saw in September of 2010. The amount of new listings that are coming onto the market is steady but very slow.
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