While I still have a beef over when to post sales for the previous month (due to tardy input into the MLS), I can post the listing and under contract information with more confidence.
Today total listings available for single family residence equals 768 (up from 701 at the start of July). 298 are new homes and 470 are existing homes on the market.
There were 173 new listings for the month of July (176 in June). 3 homes have already closed and 10 have contracts. The average asking price for these new listings is $248,605 (down from an unusually high number last month of $274,502) this figure is fairly consistent with the months prior to June (range $246K to $253k approx.). The median asking price is $219,900 (down from $235,450 -- again a skewed number in comparison to earlier months), this number matches the median asking price from February of this year.
83 new construction homes listed (average asking price of $243,557, median asking price $225000). 2 of these have closed already and 6 more are under contract.
90 existing homes listed (average asking price $253,149, median asking price $213,900). 1 of these has already closed and 4 more are under contract.
48 homes entered into contracts in the month of July (down from 54 in June). The average asking price for homes that received contracts was $212,516 (up from $206,872 in June) and the median asking price for July was $189,975 (down from $195,900 in June).
18 new construction homes entered into contract (average asking price $222,557, median asking price $192,975).
30 existing homes entered into contract (average asking price $206,492, median asking price $187,000).
The interesting number that jumped out at me this month was the decline of new listings of existing homes on the market (down from 115 to 90, the lowest total since February). Of course since the total numbers still looked the same, that was thanks to the increase in the number of new contruction listings (up from 61 to 83, the highest number this year). The average new construction listings for the year to date is 61 a month, the average existing listings to hit the market this year is 102 a month. You can see that these numbers were flipped in July.
I don't think this neccessarily points to a clear trend, but I hope the existing listings is the start of one. My feeling on the uptick in new construction listings is that there was a new impact fee for new contruction permits that took effect on July 1 of this year (I know because I paid it for my own new home project, I was about a week late getting everything together to avoid the fee). I'm guessing that many contractors pulled all the permits they could to avoid the new impact fee and perhaps the number will drop back to average over the next month or so.
I wish I knew how to post a spread sheet of this data in a clear an easy form for you all to read, but I'm stumped right now (I've produced on and it's real nice to look at, believe me). If anyone can help me figure this out I'd be greatful. I don't have a problem posting charts but I can't make a simple spread sheet appear.
Sales data for the month will be posted later this month (when I'm confident all the Members of the MLS have updated their listings LIKE THEY ARE SUPPOSED TO DO WHEN THE PROPERTY CLOSES).
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