June 2005 to June 2007 year to date comparison:
2005 | 2007 | % Change | |
New Listings | 52,414 | 59,717 | + 13.9% |
Pending Sales | 34,146 | 24,713 | - 27.6% |
Closed Sales | 26,399 | 20,044 | - 24.1% |
Active Listings | 21,613 | 34,630 | + 60.2% |
Median Price | 231,000 | 232,500 | + .6% |
Sales to List Price | 98.5% | 95.7% | - 2.8% |
Supply-Demand Ratio | 3.67 | 9.36 | + 155% |
Affordability Index | 138 | 127 | - 7.7% |
Wow! The Inventory has increased 60% since 2005. That is amazing. But notice how the prices are holding steady - there is some ray of hope for Sellers. But right now there is 9 months worth of inventory! That means the competition for the available buyers is ferocious and will not likely fade very soon. Time will tell what this all means...
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