Market Conditions Ending June 30, 2011

Inventory across the board is continuing it's decrease. What's causing the decrease you say? Well there are a couple factors. First homeowners are flat out not able to sell there house without losing money so they are not even trying to sell. New listings are down -22% since last year this time and another -26% since January. Also pending sales are up 24% compared to last June 2010. With the average sales price continuing to drop approximately -7.8% from last year this time and -7.4% year to date it makes an attractive buying situation. As a result of lower inventory levels the total market time is staying strong at 134 days. The average sales price from June 2011-June 2010 was $271,300 which is down -4.4% compared to June 2009 - June 2010 ($283,700).