July was a very good month for our industry in many ways! Our listing inventory has dropped below the 8,000 mark for active listings. We have not been below 8,000 listings since March of 2006.
New listings are also down by 19.86%.This is just another sign that we are continuing to see market improvement. July has historically been a slower month with a decrease in sales from June 2007 to July 2007 of 21.72%.
I am happy to report that the decrease in sales for June 2008 over July 2008 is 9.53%. There is virtually no change in the median sales price, it appears to have stabilized currently at $199,900.
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