Monday Market Update - July 16, 2012
Happy Monday and hope you had a GREAT weekend!
Stats are in for June and we continue to see signs of improvement. For the first time since October 2008, our list to sales ratio went over 95%. For the 538 sales in June, the list to sale price ratio was at 96.2%. Definitely a stride in the right direction. We currently have 4,005 homes on the market (as of July 1st) which equates to a 7.4 month supply of inventory which is slightly better than May. Our pending sales numbers as of July 9th stands at 1,082 which is a strong number heading into the end of the summer.
Our average list price increased this month to $366,351 and the average days on the market dropped slightly to 132 days. Our sold units were up 2.9% from last month and up 9.8% over last June. The average sales price for June was $210,005.
Overall, we continue to see slow but steady signs of improvement in our local market. I'm still cautiously optimistic and will continue to watch the trends carefully.
If you'd like a more localized assessment of your neighborhood or home, just give us a call or check us out at www.WilmingtonHomeValuesOnline.com
Have a great week and we look forward to helping you with all your real estate needs!