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May 2010 Residential Market Update

June 3rd, 2010

 1,290 home sales were recorded in May, up 3% from May 2009 and up 4% from the prior month.

Average sales prices were up 13% from the prior year to $128,788 and up 6% from April 2010!
 
Year-to-date sales are virtually unchanged from 2009 with 5,628 already closed in 2010 compared to 5,610 closed during the same time last year.
 
61% of May’s sales were Non-Bank sales, up 11% from May 2009!
 
May new home sales were down 26% from the prior year and the average new home sales price dropped 5% to $229,946.
 
The Top Residential Seller was Fannie Mae with 104 sales totaling nearly $6.9 million.
 
May foreclosures were up 12% from May 2009 with 445 recorded for the month but were down 5% from April 2010.
Click here to review all of our Residential Market Trend Reports!
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