The housing market in Delaware County...
• The number of units listed for sale increased 7.7% over the number of units listed in June '09 and is down 16% over the number of homes listed in July ‘08.
• The Average list price is DOWN 3.8% over June 2009 list price and is down 2.7% over July 2008 average list price.
• The Average SOLD price is up 7.2% over June 2009 which is the third consecutive increase. The year over year increase in the SOLD price, this year, July 2009 compared to July 2008: the SOLD Price is down 5.7%.
• The Average Days on Market increased to 88 days, an 8% increase over last month's 81 days on market average.
• July showed 550 homes sold in Delaware County over the 563 homes sold in June 2009, a decrease of 2%.
Don't go thinking we are out of the housing slump yet! Much like the Cash for Clunkers program is giving the auto industry a false sense of hope, the first time home buyers program has helped stimulate sales but has not corrected the whole fiasco. I am still standing behind my feelings that we will continue to see a rise in the homes sold in Delaware county as we near the critical "first time home buyers tax credit" deadline but that this infusion into to the housing market may be giving off some false hope to a rebound.
NOTE: You must identify and settle on your new home BEFORE DECEMBER 1, 2009 to be eligible. And since the home buying process does not happen overnight you better be in the game NOW to have a shot with this program. This means we are approaching the time for first time home buyers to step up and buy their first home or lose that precious tax credit!
Life happens and so real estate, whether high or low, will continue to sell. It's all just part of how you look at it.
- DJ
*statistics derived from TrendMLS provider of multiple listing services to the real estate community of Delaware County and many other surrounding counties
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