Here's the news;
- Single family listings UP,
- Single family sales DOWN,
- Condo listings down (kinda good news but the June/July number is only a difference of 17. So lets not split hairs!)
- Condo sales DOWN - by 15!
- Wow! Single family median price is down a whopping 20% from a year ago,
- Wow again! Condo median price down 13.1% from a year ago and last month it was UP 0.1% from a year ago. Are we on a roller coaster or what?
- Single family absorption rate is now 16.4 months compared to 13.7 a month ago,
- Condo absorption rate is now 23.3 months compared to 22.2 months a month ago - in a word or two Condo sales still stink!
I'm looking for some good news........
- $200-250,000 single family sales remains the best selling price in town,
- Single Family sales priced over $1,000,000 remains to be better than $800-$900 and $700-$800 combined,
- Condo sales priced between $300-$400 as well as those priced between $100-$120 make up 212% of all condo sales in July!
- That's it for the good news!
If you ever needed an argument for a price reduction - here's the material!
MARKET STATUS STATISTICS - JULY ‘08
Jul '08 Listings 8,643 Single Family
Jul '08 Sales 529 Single Family
Jun '08 Listings 8,617 Single Family
Jun '08 Sales 632 Single Family
Jul '08 Listings 7,276 Condo's
Jul '08 Sales 312 Condo's
Jun'08 Listings 7,293 Condo's
Jun'08 Sales 327 Condo's
Sales Trends - Single Family
Jul '08 Median Price $180,000 -20%
Jul '07 Median Price $225,000
Jun'08 Median Price $185,000 -15.9%
Jun'07 Median Price $220,000
Sales Trends - Condo's
Jul '08 Median Price $152,000 -13.1%
Jul '07 Median Price $175,000
Jun'08 Median Price $160,000 +0.1%
Jun'07 Median Price $159,900
Absorption Rate
Jul '08 Single Family 16.4 months
Jun'08 Single Family 13.7 months
Jul '08 Condos 23.3 months
Jun'08 Condos 22.2 months
Happy August!
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