Archive for June 7, 2010
According to statistics from the Regional Multiple Listing Service (RMLS), the number of homes that sold in May 2010 increased more than 22% as compared to May 2009.
Compared to April, however, sales dipped 8.86%, reflecting the expected decrease in the number of buyers as the Home Buyer Tax Credit expired on April 30.
Still, with low interest rates and the traditional buying season ahead, projections are that the market will continue to improve.
Homes Selling Faster
In May 2010, homes sold faster than in April 2010, dropping to 72 days on market, which is more than two weeks less than a year ago.
The change reflects the season, and also the overall consumer confidence in the local and national economy.
Median Sales Price Falls Slightly
The median sales price for May 2010 fell slightly, declining less than 1% compared to April.
This report is developed monthly and is based on information from The Regional Multiple Listing Service (RMLS) for the period stated above. Residential properties only in RMLS areas 141-156.
