Easton Home Sales and Real Estate Update
October 2008
After ten months, the story hasn't changed much. The number of homes sold is off 31 percent from last year and on track for the fewest sales in the last twenty years. While the numbers say prices are stable, when you look behind the numbers you are seeing buyers getting a lot more home for their money. The "real" price update is closer to Selling Prices being off about ten percent.
You would think that in this market - prices would drop more. However, we are seeing a market with buyers that don't have to buy and sellers that don't have to sell. This is keeping price levels surprisingly stable.
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EASTON Update |
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Year to Date Sales of Single Family Homes |
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As of October 31 |
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2008 |
2007 |
08 vs 07 |
2006 |
08 vs 06 |
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Closes |
52 |
75 |
-31% |
63 |
-17% |
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Median Price |
$783,000 |
$761,000 |
3% |
$740,000 |
6% |
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Avg Selling Price |
$824,333 |
$848,167 |
-3% |
$841,187 |
-2% |
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Prepared by the TETREAU Real Estate Group from W. Raveis Real Estate |
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