SEPTEMBER HOME SALES STEADY, PENDINGS REMAIN STRONG

SEPTEMBER HOME SALES STEADY, PENDINGS REMAIN STRONG
October 8, 2009


There were 1,935 home closings reported for September, which is down 6.7 percent from the 2,075 closing reported in September of last year.

Third quarter closings were at 6,213 for 2009, down 9.1 percent from the 6,836 closings during the third quarter of 2008.

Year-to-date closings are 15,453, compared with 19,833 through September of 2008, which is a decrease of 22.1 percent.

There were 2,120 sales pending at the end of September and the average number of days on the market fo a single-family residence was 86.

The median price for a single-family home was $160,000 in September, while the median price for a condominium was $142,500. That compares with median prices of $168,900 for single-family homes and $148,500 for condominiums in September of 2008.

Inventory is at 23,975 properties, compared with 24,270 available at the end of September last year. Single-family inventory is actually down and condominium inventory is nearly the same amount as was available at this time last year. Multi-family and farm/land/lot inventory continues to be higher than last year's levels.

You can click here for a copy of the news release with additional details on home sales data for September, the third quarter and year-to-date 2009 compared with 2008.