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July Home Sales Results

August 5th, 2010

After astounding results in the second quarter of the year, July fell flat with only 1,161 home sales, down 21% from July 2009 and down 26% from the prior month.   

Average sales prices were only down slightly by 1% from the prior year to $130,782 and were down 2% from June. 

On a postive note, Bank Sales were down 33% from July 2009 and down 23% from June with only 359 recorded for the month.
New Homes Sales were up 11% with 98 closed in July compared to 88 closed in July 2009.
Foreclosures were down for the month with only 437 recorded, an 18% decrease from July 2009.
There was a decrease in foreclosure notices as well, down 30% from the prior year.
While many will see the dip in July’s home sales as a negative indicator that perhaps the market hasn’t quite turned around, total sales revenues are still up 3% for the first 7 months of this year from 2009. Year-to-date sales sit at just over $1 billion compared to the same time last year when we were at $996 million.
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