by drose
13. July 2012 15:08
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Rose & Womble IS your LOCAL Real Estate Resource. Here is our most recent report of market activity for your information.
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During the past 12 months 18,560 homes have sold, a 9.8% increase from
the previous 12 month period.
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In June 1975 homes were sold, almost reaching the inflated levels
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set during the U.S. Government’s housing tax credit program which
expired in June 2010.
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There are currently 2613 residential properties that are under contract
but have yet to close.
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The following chart shows the total number of homes for sale by month for the past 2 years. There
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are currently 11,610 homes for sale, which is 18% lower than the same time last year .
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This is the fewest number of properties for sale in July since 2006.
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The monthly average price for homes sold continues to rebound, up almost 20% from the January lows.
Year to date the average price of homes sold is up 1.4% from the same time period last year,
further evidence of a stabilizing in prices.
Absorption rates continue to trend downwards towards a more balanced market between buyers and sellers.
This is a function of both increased sales and lower inventory levels. The overall rate is still high by historical
standards, but is dramatically lower than the 9.7 reading in July of last year and is solidly in the
balanced market range for the first time in several years.
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