Prices continue to fall, as evidenced by the lower Average Price per Square Foot for ‘Homes with Contracts’. The same statistic for ‘Homes Sold’ is a lagging indicator, going back 30-60 days prior to actual sold date while ‘Homes with Contracts’ is a more recent indicator.

It’s good to understand that Price per Square Foot for ‘Homes with Contracts’ doesn’t take into account the actual sold price, since this won’t be public record until the sale is actually closed. Therefore, the Price per Square Foot of $84 will likely be even less than the current ‘pending’ amount.

‘Months Required to Sell’ has greatly improved. Not that long ago, it took at least 1 year or more to sell a house in this area.

‘Homes for Sale’ have by far the largest Average Price per Square Foot. Simply put, this means that ‘Homes for Sale’ are OVERPRICED. Since houses sell at approximately 95% of list price, the Price per Square Foot should at least be in line with ‘Homes Sold’ in order to have a fighting chance of finding a buyer.