April real estate update

For 2009

Sales figures are in and April's sales were 9.1% higher than March.  They were still 27.5% below 2008's numbers.  Average sales price of existing homes in April was $113,445.   The existing inventory of homes remained relatively stable from March to April this year and to April, 2008 figures.   Total existing listings available for sale are 10% below 2008 levels.

The new home inventory dropped 7.9% from March's levels and was 7% below April, 2008's level. Average sales price was $254,000.

Absorption rates:

Homes priced below $120,000 have 4.5 months of inventory.

There are 5.2 months of inventory in the $120,000 to $180,000 price range.

$180,000 to $249,900 price range of homes is 9.67 months of homes for sale, down from 12.75 months in March.

$150,000 to $399,999 price range has 11 months of inventory and anything above 400,000 has 3 years of inventory.