June Sales Figures: More Of The Same
I think there must be a reason they talk about "summer doldrums" in many industries. It's because nothing much happens.
That must be what we're moving toward with June's sales figures: nothing much is happening.
The Absorption Rate for single family homes went up a bit over May. For June, the AR was 7.3 percent. That's just a bit better than May's 6.8 percent rate and kind of reflects the sleepiness of the market. Must be the hot weather. Or the rain. The Absorption Rate for condos was snoozing as well. It was at 4.5 percent for June, down a little over May's 4.7 percent figure.
Still, an increase of half a point is better than a decrease.
The number of single family homes went down a bit in June over May. In June there were 8,617 single family homes in the Multiple Listing Service versus May's 8,675. The good news is that sales were up a little in June to a total of 632 single family sales for the month. In May there were 590 sales. The number of single family home sales has gone up every month this year -- that's a good sign!
The median price is bouncing up and down this year. In June the median was at $185,000. In May it was $175,000.
With condos, the news is mixed. The number of condo listings for June was 7,293 units in the MLS versus May's 7,469. So, fewer condos on the market -- that's good for condo sellers. But the number of condos sold also went down. Only 327 condos were sold in June versus May's 351. Not much of a difference, but less is less. Historically, condo sales usually lag in the summer.
The median price for condos also went down. In June it was $160,000 but in May it was $175,900.
All in all, I think June was a pretty uneventful month for real estate sales. June often is in this area. By the way, the last time we had a median price for single family homes of about $185,000 was during 2005 -- that's before the "great price run-up". So, if you're a seller it might be wise to keep that in mind when pricing your home -- same for condo sellers.
For more information on real estate in the Tampa Bay area, visit my website at http://www.thestpeterealestatesite.com/.
That must be what we're moving toward with June's sales figures: nothing much is happening.
The Absorption Rate for single family homes went up a bit over May. For June, the AR was 7.3 percent. That's just a bit better than May's 6.8 percent rate and kind of reflects the sleepiness of the market. Must be the hot weather. Or the rain. The Absorption Rate for condos was snoozing as well. It was at 4.5 percent for June, down a little over May's 4.7 percent figure.
Still, an increase of half a point is better than a decrease.
The number of single family homes went down a bit in June over May. In June there were 8,617 single family homes in the Multiple Listing Service versus May's 8,675. The good news is that sales were up a little in June to a total of 632 single family sales for the month. In May there were 590 sales. The number of single family home sales has gone up every month this year -- that's a good sign!
The median price is bouncing up and down this year. In June the median was at $185,000. In May it was $175,000.
With condos, the news is mixed. The number of condo listings for June was 7,293 units in the MLS versus May's 7,469. So, fewer condos on the market -- that's good for condo sellers. But the number of condos sold also went down. Only 327 condos were sold in June versus May's 351. Not much of a difference, but less is less. Historically, condo sales usually lag in the summer.
The median price for condos also went down. In June it was $160,000 but in May it was $175,900.
All in all, I think June was a pretty uneventful month for real estate sales. June often is in this area. By the way, the last time we had a median price for single family homes of about $185,000 was during 2005 -- that's before the "great price run-up". So, if you're a seller it might be wise to keep that in mind when pricing your home -- same for condo sellers.
For more information on real estate in the Tampa Bay area, visit my website at http://www.thestpeterealestatesite.com/.
-30-
posted by Terry Ward at 3:38 AM
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