I finally caught a breath and finished the August Current Market Conditions Report. This month's figures are going to red meat for the market bears. The average single family home sales price reported in the Sullivan MLS for the 3 month period ending July 31, 2010 (hey, how's that for a long descriptor for a single data point) dropped sharply, to $136,704, the lowest 3 month average I've recorded since June 2003. The price picture may be a brighter for the next few months, as the average sales price for the six weeks since July 1 to date are pointing higher.
The most interesting part of the data, though, is on the seller side. Sellers seem to finally be getting the message. The average asking price has fallen more than 2% a month for each of the last 3 months, a cumulative drop of 9.2% since January.
Check out the latest Current Market Conditions report and then drop on back here to leave your thoughts.
You've removed your most recent post about gas drilling -- including the replies. What's the story there?
Posted by: ar | August 24, 2010 at 07:25 AM
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Posted by: David Knudsen | August 24, 2010 at 08:09 AM