OK the election is over and this is the last month where we watch politician tell us how bad things are in America. Unfortunately now everyone else's voice is going to be heard on the same subject. Unemployment filings are unprecedented, foreclosures on the rise, banks are tightening lending practices and go figure gas prices have plummeted to under $2.00 in some parts of this area. Nothing seems to be very stable.
So what about the housing market in Delaware County...
- The number of units listed for sale is, are you ready for this down 26% over the number of units listed in September '08. October '08 listings are also down 31% over the number of homes listed in October 2007.
- The Average list price is up just about 1.7% over September ‘08 and is up 7.7% over the October '07 average list price.
- The Average SOLD price is down another 5.2% over September ‘08 which is the third straight month of decline. The year over year increase in the SOLD price, this year, October ‘08 compared to October ‘07 the SOLD Price is down 7.2%.
- The Average Days on Market also increased to 79 days for the third straight month, a 7% increase over last months 75 days on market average. October 08 is up 25.4% over October 2007 days on market average of 59.
Ouch that hurt, Enough said
*statistics derived from TrendMLS provider of multiple listing services to the real estate community of Delaware County and many other surrounding counties