Thursday, August 26, 2010

Brookings Housing Report - July 2010

Brookings Housing Report - July 2010
by Justin Fjeldos
August 26, 2010

July Sales Volume was $4.05M down 47% from $8.59M for June '10.
July Sales Volume of $4.05M was down 35% from $6.2M for July '09.
July Average Sale Price was $162,106 down 14% from a year ago.
July Pending Home Sales saw a 30% decline year-over-year.
There was no change in Pending Home Sales from June '10 to July '10.
July Inventory dropped 11% to 4.56 Months from 5.07 in June '10.
Year-over-year July Inventory is also down 14% from July '09.
Days on Market for July was 81 which is a 21% decrease from July '09.

Agent's Note: We had a great month in June.  Sales were expected to slow over the next few months with the June expiration of the tax credits.  July was better than I had projected.  It is encouraging to see the Pending Home Sales remain the same for June and July.  We also have encouragement for Sellers with the lower Inventory Rate.  Don't worry Buyers!  You are still able to take advantage of interest rates at 50 year lows.  This means, for most buyers, you can afford more house within your monthly budget.

*Report includes statistics for the City of Brookings only! These figures do not include surrounding cities or towns. Information compiled by Justin Fjeldos using local MLS statistics. This information is deemed to be reliable but is not guaranteed.

Bright Spot in Housing

Prices Holding Up Well Despite Everything : Speaking of Real Estate

Today's Tips for August 26th 2010

Free Tips Help Home Owners Do an Insurance Checkup : Speaking of Real Estate
BEST CHOICE REAL ESTATE - (800) 788-8323