June Home Sales are Up and Down

I saw a chart the other day that was good news or bad news – you could look at it either way. Being the TypeE personality I am, I still see good opportunities for both buyers and sellers in the current real estate market.

Here’s what the statistics showed for Baltimore County single family homes in June 2006:

• There were 1,678 new listings – that was down from May.
• There were 1,002 sales and contingent contracts – also down from May
• The total inventory of single family homes for sale was 3,288 – up from May

The number crunchers compared June 2006 to June 2005 and found that:

• The total number of houses sold was down almost 17% from a year ago
• The average sale price was $315,802 – up from a year ago when it was just over $301,000
• The average days on the market was 42 – a year ago it was 32 days

Now that your head is swimming with numbers, here’s what I think it means: The market has stabilized. There is more of a balance between people wanting to sell and buyers looking for a new home. Good for sellers – there is still a strong market, as you can see since prices are still increasing. Good for buyers – they have a better chance of submitting a winning offer on the right house for them.

The trouble with statistics is that they are a snapshot at a single point in time. By the time you read real estate statistics, the market has already changed, and what applies in one market is not true in another. Your best bet is to find a Realtor® you trust and work with that professional to sell your home. You'll end up with more money in your pocket and the confidence that you got the best deal.