Property Sales

December Property sales were 463, up 3.8% from 446 in December of 2008 and -27.8% lower than the 641 sales last month. December 2009 sales were at a mid level compared to December of 2008 and 2007. December YTD sales of 6,247 are running 13.8% ahead of last year’s year-to-date sales of 5,488.

Prices

The Median Sales Price in December was $405,000, up 16.0% from $349,000 in December of 2008 and up 15.4% from $351,000 last month. The Average Sales Price in December was $517,769, up 16.5% from $444,434 in December of 2008 and up 11.2% from $465,606 last month. December 2009 ASP was at a mid range compared to December of 2008 and 2007.

Inventory & MSI

The Total Inventory of Properties available for sale as of December was 2,327, down -10.8% from 2,608 last month and down -29.4% from 3,296 in December of last year. December 2009 Inventory was at its lowest level compared with December of 2008 and 2007.
A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The December 2009 MSI of 5.0 months was at its lowest level compared with December of 2008 and 2007.

Selling Price vs Original Listing Price

The Selling Price vs Original Listing Price reveals the average amount that Sellers are agreeing to come down from their original list price. The lower the ratio is below 100% the more of a Buyer’s market exists, a ratio 93% at or above 100% indicates more of a Seller’s market. The December 2009 Selling Price vs Original List Price of 93.3% was down from 93.8% last month and equal to 93.3% in December of last year.