Here are the data from the MLS for the month of October. There are some interesting shifts from the data reported for the month of September.
The inventory has dropped a little as has the absorption rate. Median home price is stable as compared to a year ago for detached homes, but off a bit for attached homes (this tends to shift each month). Next month will be interesting to see as a comparison, as we are heading into the holiday period when we often see a slowing of the market. While the average marketing time is about 2 months, a number of homes actually sold very quickly. Keep in mind that the data are based on the most recent contract - some homes may have been listed previously with the same or another broker so those data would be somewhat different if you took that into consideration.
AS OF OCT. 31, 2006 | ATTACHED HOMES | DETACHED HOMES |
Active | 306 | 553 |
Sold in Last 6 Months | 275 | 468 |
Sold/Pending In Last 6 months | 337 | 586 |
Absorption Rate (Solds) | 200 days | 213 days |
Absorption Rate (Solds Plus Pendings) | 163 days | 170 days |
Average Days on Market | 61 | 63 |
Median Price Change From 1 Year Ago | -8% | 0% |
Median Price | $465,000 | $767,375 |
Average Price | $486,176 | $808,951 |
New on Market in Oct. | 75 | 123 |
Pending in Oct. | 31 (5 were new contracts in Oct.) | 49 (12 were new contracts in Oct. |
