Delco's housing trend update

So the October figures are in...

• The number of unit listed for sale is slightly up .003% over the number of units listed in September 07 and down 8% from October '06.
• The Average list price is up a blip, .001% over last month and up 8% over October '06.
• The Average SOLD price is up 11.6% over last month and is up 10% over October '06.
• The Average Days on Market is up 12% over September 07 and up 24% over October 06.

The October upswing in Average Sold price stops a 5 month trend of declining pricing in Delaware County which is a positive sign going into the last few months of the year which typically are slow in volume but we will wait and see how the pricing trend reacts in November. 

simply sharing our regional numbers so that others can just stay informed.

As I stated in the September '07 stats the hottest months for the home buying and selling are the spring and early summer months so traditionally the housing market will slow down a bit during the first and last quarter of a year so it is always good to look at the year over year stats along with the month by month stats. This will help to better understand where your local market is headed. Remember real estate is local, so know what type of market you are in and you will better understand what you need to do as a buyer or seller.

Again, if you are thinking about selling in the near future you should set your goals on being ready for the spring market, which gives you about 4 to 5 months to prepare your finances and put your home on the market. Although with fewer homes on the market during the holidays, you may just be able to get top dollar now. More to come...

See Ya!
    

*statistics derived from TrendMLS provider of multiple listing services to the real estate community of Delaware County and many other surrounding counties