June Residential Highlights Outside, the temperature continues to rise but the market is cooling when comparing June 2007 to June 2006. New listings continued to grow at 12.7%. However, closed sales and pending sales dropped 18.5% and 10.4%, respectively. As a result, there were 13,752 active listings at the end of June 2007. Given the month’s rate of sales they would last 5 months.
Year-To-Date Trends Similarly, when comparing market activity for January-June 2007 to the same time period in 2006, new listings increased 14.4%. On the other hand, the number of pending and closed sales decreased 8.8% and 8%, respectively.
Appreciation Using the average and median sale prices for the twelve months that ended with June 2007 compared to the twelve months ending in June 2006, the average sale price appreciated 8.9% ($333,200 v. $306,100). Using the same formula, the median sale price appreciated 8.7% ($280,000 v. $257,500).
Second Quarter Report Comparing the second quarters of 2007 and 2006, new listings are up 10.3% (17,386 v. 15,769). However, pending sales decreased 11.9% (8,652 v. 9,819) and closed sales dropped 9.8% (8,361 v. 9,271).
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