Delaware County has hit a bump in the road as the residential resale statistics do not look to strong. As the slide in the real estate market continues we take a look at the whole picture and see that although the market is trying its hardest to come back you can't fight the numbers. Home sellers may not like the statistics and may need to take a very close look at the market before considering the sale price of their home. The right strategy may just be able to buck the trend and get you a decent sale price in this down market. Here is what the TRENDMLS numbers are telling us about last month...

The number of units listed for sale is down 12.5% over the number of units listed in April '08. More staggering is that listings are down about 26% over the number of homes listed in May 2007.

The Average list price is also down about 2% over April ‘08 but up   8.6% over May '07 overall it may seem to be a nice annual increase showing some strength in pricing however the SOLD price over last year is sobering.

The Average SOLD price is down a blip at .003% over April 2008 and even more so discouraging is that the SOLD price from last year was down 16% over May '07.

The Average Days on Market decreased to 66 days, a 16% decrease. However, 66 days on market average is up 15.2% over May 2007 days on market of 56.

Not much of summary on this one other than the dog days of summer seem to have taken a bite out of the market early this year and consumer confidence is still sitting a bit low. With vacations and relaxation looming for most would be home buyers the outlook over the next few months is going to favor the buyers as inventory builds and selection is vast. Buyers get your shopping hats on, the inventory is high and according to the statistics the prices seem to be in your favor, happy house hunting.

See Ya!
DJ    

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