July was an active month with 62 single family homes going to contract and 54 sold. This means that the market is still moving albeit slightly slower than June when there were 62 contracts and 67 sales; and it means that buyers were still looking, making offers and closing on homes despite or because of rumors of bigger downward turns in the economy.
With the interest rates holding on the low side and money available to buyers with good credit it seems that selling a home comes down to smart pricing. domain like . While it may be best in the long run to hold off on price decreases until the traditional upsurge in the fall, for owners who are in need of immediate turnaround, now is the time to take advantage of the buyers looking for that summer time sale. More houses will be coming on the market in the fall and both the buyers and the sellers will need to make adjustments in their strategies depending on the stats we see at that time.
July 2010 at a glance:
•The highest priced home: listed: $13,500,000 sold: $11,450,000 days on market: 1,558
•The lowest priced home: listed: at $549,000 sold: $521,000 days on market: 7
•The median number of days on market was 92
• The median sale price to list price was 94%
•The median price per sq. ft. was $504.86.
beds |
baths |
Sqft |
LP |
lp/sqft |
Sp |
sp/sqft |
sp/lp |
dom |
|
2008 medians | 4 | 3 | 3,666 | $2,495,000 | $680.74 | $2,225,000 | $622.13 | 94% | 106 |
2009
medians |
5 | 3 | 3,742 | $2,295,000 | $630.70 | $2,150,000 | $569.15 | 91% | 87 |
2010
medians |
4 | 3 | 3,910 | $2,337,500 | $529.55 | $2,025,000 | $504.86 | 94% | 92 |