Buyer activity in the MRIS region in June was once again extremely strong. There were 12,805 signed purchase agreements during the month, which dwarfs the 9,501 written last June and represents an increase of 34.8 percent.
Sales prices continue to fall as a higher share of homes sold are foreclosures and short sales. The June median sales price of $280,000 was a drip of 11.1 percent from last June.
In the “good news for sellers” category, both the Average Days on Market Until Sale and the Percent of Original List Price Received at Sale metrics appear to have bottomed out and are starting to slowly head back in the right direction.
