June 2009 Bryan / College Station Residential Market Report

Dear friends & clients,

The good news from the June 2009 Bryan / College Station residential statistics is that there are no surprises. Most indexes remain below 2008-2009 figures, but trending in the right direction.

Total Monthly Sales remain below 2008, but climbing

June Total Monthly Sales increased 11% over May at $50.9 million, which is down 17% from 2008's record $61.8 million.

Units Sold climbed 12% over May, from 266 to 300, and are only 2% below 308 units in 2008. Both of these charts are climbing, and should continue the climb through July.

Prices are holding their own

The Average Single-Family Sales Price dropped 1% from May to $168,909, and is 2.9% below 2007-2008. 2008 actually saw higher prices in August and September, while 2007 was slightly lower.

Average Days on the Market remain low and steady

Homes sold one day faster last month, with Average Days on the Market in June on par with 2007 at 112 days. Homes sold slightly faster in 2008, with and ADOM of 105.

New Listings up sharply in June

After missing the usual May bump, New Listings in June jumped 21% to almost tie June 2007 at 403 units. May new listings were down 32% from 2008 as sellers remained out of the market, but many sellers have realized that with the end of the season fast approaching, that you can't sell a property that's not on the market.

Good time to become a homeowner

Although Bryan and College Station real estate values have remained steady thus far; it's still a great time to buy. Our inventory is good, values are stable and the U.S. Government is offering an $8,000 buyer's credit. Mortgage loans are available for qualified borrowers, and if you aren't qualified now, we can help you on the path to home ownership.

Visit my Market Reports Website often

Bryan & College Station market information is updated daily at MarketReports.SamWhiteRealty.com. There you'll find links to opinions, charts and statistics, as well as twitter.SamWhiteRealty.com, where we update the local and weather and Multiple Listing Service information several times daily. For links to real estate articles from local and state media, visit Facebook.SamWhiteRealty.com.

I'm always happy to answer questions personally at 979-574-0626 or sam@samwhiteproperties.com.

Blue skies,

Sam White
SamWhiteRealty.com