Statistics for July are in and sales were definitely up.  We had the highest number of sales in a year for the month of July (sold units have been rising since November 2008).  Mortgage rates spiked in June but leveled back out in July so there are definitely some refinances going on.  First time home buyers have about 3.5 months to close on a home to be able to claim the $8,000 tax credit.

We actually saw a small decrease in our listing inventory for the month of July (less 35 homes) with 5,400 homes currently on the market.  There was a 25 unit increase in sold units from July over June which continues to put us in a strong buyers market with a 12.3 month supply of listing inventory.  While our listing inventory has remained in the 5,400-5,500 unit range, our average list price has dropped to $410,191.  Average days on the market has stayed in the 130's and the list to sold ratio is 94.9%

July's average sold price of $219,871 is down by 12.3% from June and down 11% from July 2008.  This is a large $30,000 decrease in average sold price and there is no doubt that foreclosures have played a role in this current decrease.  Our year to date average sold price is $256,498.

The number of sold homes is up 6.1% from June.  July saw an increase of 25 sold homes over June 2009.  This is our highest total of monthly sold homes since July 2008.

If you have any questions or comments about this data, please email or give me a call.  We're always here to answer your questions and help you with all your real estate needs.