Brookings Housing Report - August 2010
by Justin Fjeldos
September 8, 2010
August Sales Volume was $3.34M down 21% from $4.05M in July.
Year-over-year Sales Volume was down 50% from $6.69M in August '09.
August Average Sale Price was $151,939 down 9.1% from a year ago.
August Pending Home Sales saw a 52% decline year-over-year.
Pending Home Sales have remained flat in 2010 since June.
August Inventory rose 8.7% to 4.96 months from 4.56 months in July.
Year-over-year Inventory is down 18% from August '09.
Days on Market for August was 106 days which is a 30.8% increase from July.
Agent's Note: Year-over-year comparisons need to be kept in perspective because a year ago we had the home buyer tax credits driving higher than usual buyer demand into the fall. Sales are expected to slow over the next few months as we proceed into fall. However, it is encouraging to see that the Inventory rate remains low in August. Buyers 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.