Some months I'll do a little checking on the market before I actually mine the data for the listing and sales reports. I just did that today and noticed some things that will likely be very interesting for the upcoming reports.
First, it appears that unit sales will be steady again with at least another 50 sales for July. New listings will also be steady around 130 or so.
Looks like new sellers are asking for less again for what will be the fourth straight month. And that figure will go down again in spite of one new listing hitting the market for $1.2 million.
As you know in the last report for June, the average and median price for that month hit an all time high for all the years I've been tracking this data. When I get the sales report ready for July we will likely see the average and the median plummet well below the stats for July of 2006. In fact they may be closer to 2005.
Now this could just be a one off month in the grand scheme of things. Supply certainly continues to out pace demand since January of 2006. But it will be interesting to see how the new average numbers affect the actual sales activity in units for the rest of the year. I make no guesses at this time, I'd make a wish -- but you could probably guess what my wish would be.
See you in the morning with the listings report for July.
No comments:
Post a Comment