April Market Numbers are in!
New listings last month came in at 1383. This is a 7.6% drop from March 09 and a 19.6% drop from April 08. This is great!!! The last thing we needed was the usual spring rush to market of new listings. Now lets look at last months sales.
Total sales for April (resale) came in at 641. A 22% increase from March 09. Combine the first two numbers and we have a decrease in inventory at the same time as an increase in sales. Good stuff!
Total actives for the month come in at 4528. A .07$ decrease from last month but a 17% decrease from same time last year.
We did give back some ground on price after two straight months of moderate increase. The average price fell 3.4% to $199,268 and the median price fell 3.9% to $172,000
Overall we continue the trend of smaller inventories and increased sales for a third straight month. Prices will reverse only after sales take inventories down below a six month supply of homes at the 300K and below level. We are there now for homes 200K and below. Also, as more positive media attention gets focused on both housing and the economy and consumer confidence is restored we will continue to leave the bottom of this market behind. I welcome your questions and comments. Have a great month
