The total number of properties sold raised from 3519 in May 2009 to 4250 for May 2010. This was also an increase from April 2010, where 4084 properties sold. This brings the year to date total up 12.1%. As we get further and further into the busy selling months, I still anticipate a good summer market. Interest rates are still phenomenal, at an average of 4.8% on a 30 year fixed conventional mortgage.
The average sales price for May 2010 was $247,000.00 which lowered slightly from $251,000 in April, but my thoughts on this was competitive sellers still trying to get their properties sold under the last tax credit. May of 2009 average sale price was $243,000.00 so the market was still slightly higher than last year. Year to date our average sales price has increased 8.8% in comparison to last year.
I anticipate our overall market to still make overall increases over these summer months. If you have at all thought about a home purchase, now would still be a great time to get in, as the interest rates are very appealing.
For more info click on the graph: CBR_email_May_2010.xls
Lori Vialpando's Blog 