The July 2007 average volume of residential listings was 434 with an average price of $342,175. The July 2008 volume was 511 with an average price of $306,176. The Change in volume was a 17.7% increase.
Equally interesting was the similarities in the new listings activity. July 2007 saw 76 listings averaging $337,540 and July 2008 had 80 new listings averaging $312,758.
Now we come to the numbers reflecting the sales activity. July 2007 had 20 properties go under contract averaging $308,800 versus July 2008 with 22 properties averaging $227,386.
Finally, the month of July 2007 closed out with 28 homes sold averaging $305,114, while July 2008 saw 15 homes sold averaging $242,584.
In summary, the market remains robust for listings. Sales on the other hand are down , as are the sales prices.
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Bill specializes in residential and income producing new construction, resales, short sales and foreclosure properties in Union, Essex, Somerset and Middlesex counties.
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