The housing market in Delaware County...
• The number of units listed for sale dropped 12% over the number of units listed in May '09 and is down 27% over the number of homes listed in June ‘08.
• The Average list price is DOWN 15% over May 2009 list price and is up 2% over June 2008 average list price.
• The Average SOLD price is up 7.77% (had to go for the lucky 7's) over May 2009. The year over year increase in the SOLD price, this year, June 2009 compared to June 2008: the SOLD Price is down 10% a little bit of a hit to the mid section.
• The Average Days on Market decreased to 82 days, a 12% decrease over last month's 93 days on market average.
• June showed 560 homes sold in Delaware County over the 396 homes sold in May 2009.
SO what do I think about the market? Listings are down and days on the market are down which means people are choosing to stay put in our area. A little bit less to choose from on the buyers side, at a lower price with less time to think about the purchase as homes are selling a bit faster. Adjustment to this crazy market is a tough thing for the buyers, just when they thought they had more time, poof the home is gone. I predict that we will continue to see a rise in the homes sold in Delaware county as we near the critical "first time home buyers tax credit" deadline.
Don't forget about that. You must identify and settle on your new home BEFROE DECEMBER 1, 2009 to be eligible. And since the home buying process does not happen overnight you better be in the game at least 60 to 90 days before December 1 to even have a shot. This means we are approaching the time for first time home buyers to step up and buy their first home or lose that precious tax credit!
Life happens and so real estate, whether high or low, will continue to sell. It's all just part of how you look at it.
*statistics derived from TrendMLS provider of multiple listing services to the real estate community of Delaware County and many other surrounding counties