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Commentary regarding November 2008
Quick Stats:
|
|
2008 |
2007 |
% Change |
|
Number of Active Listings |
27,037 |
18,309 |
+ 48% |
|
New Listings this month |
9,925 |
10,692 |
– 7% |
|
Sales this month |
3,640 |
7,313 |
– 50% |
|
Average Days on Market |
41 |
32 |
+ 28 |
|
Average Price |
$368,582 |
$393,747 |
– 6.4% |
|
List Price vs. Sales Ratio |
96% |
98% |
– 2% |
|
Months of Inventory |
7.43 |
2.5 |
+ 4.92 |
Number of Listings is up by 48% along with Average days on Market at 41 days
Our inventory levels have jumped to 7.43 months from 2.5 months in November 2007
List to sale price ratio has increased to 96% leading to additional 2% discounts for buyers
