Market Data for September 2011

Here is a quick glance at some important market trends and stats for September 2011 as reported by RMLS: Compared to September 2010, closed sales increased 13.4%, pending sales increased 17.5% and new listings dropped 29.5%. The average sale price declined 4.2% and the median sale price fell 3.8%.

When compared with the previous month (August 2011), closed sales decreased 12.1%, pending sales decreased 14.9% and new listings fell 13.1%. The average sale price went down from $271,800 to $268,200 (-1.3%) while the median sale price increased from $225,000 to $230,800 (2.6%).

At the time of the report there were 10,666 active residential listings. At the month’s rate of sales, that inventory would last approximately 6.7 months.

Comparing the third quarter of 2010 with the same period in 2011, sales activity was up. Closed sales increased by 21.5% and pending sales were up 21.6%. New listings fell 27.6%. The average sale price dropped 6.9% and the median sale price was down 7.5%.