Bryan / College Station July real estate market recap

Dear friends,

Bryan and College Station's real estate market ground through the month of July, not really getting better, and thankfully not much worse.

Click an underlined title to see the appropriate chart.

Total Monthly Sales still remain below 2008

Total Monthly Sales were down only slightly from June, almost equaling the dip of 2007at $49.8 million, which is down 17% from 2008's record $61.8 million.

Units Sold climbed three units over June at 303, which also equals the area's 2007 number. We'll hope we see this chart peaking in August.

Prices are off slightly

Again, the Average Single-Family Sales Price seems to be following 2007 statistics, losing $5,000 from June's price of $168,909, or about 2%. 2009 prices are down around 6% from prices one year ago.

Average Days on the Market a long-week slower than 2008

Average Days on the Market are up 3 over June, and it taking 9 days longer to sell a property this year versus 2008.

New Listings up sharply in June and July

New Listings jumped drastically again in July, up 25% from May's record low, as sellers realized the market was still relatively strong, and they raced to get properties on the market late. August will tell us whether the market punished them for their tardiness.

You can't sell a property that's not on the market. Listen to your Realtor.

It is STILL a 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 artless 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