So is the market getting better? Continuing down? Wallowing somewhere in the middle? It's still a little early to have final sales results for April, but a preliminary look at the picture is "mixed". The good news is that the number of closed single family sales reported in the Sullivan MLS — 31 in April — was up from the 23 sales reported in March. Still well below the April peak of 55 in 2006, and under last year's 39 closed sales, but the closed sales number is showing an upward movement.
In the price front, the median sales price was $138,000, the same as last month, while the average continues to slide, down to a tepid $151,067 for the single month of April. (For the 3 month period ending April 30th, which is the measure I regularly track in my monthly Current Market Conditions Report, the average is showing as $179,388, but that includes a $1M+ sale at Chapin. With that sale excluded, the 3 month average drops for $161,263.) The drop in the average sales price points to continuing softness in the upper end of the market. In April, for example, the highest single family sales price was only $365,000. This seems to jive with that I'm finding with buyers I'm working with. They're more focussed on lower priced, less elaborate properties.
I expect to have the full Current Market Conditions Report out by the end of the week.
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