Thursday, November 12, 2009
October 2009 surprisingly (or not so surprisingly, depending on how much you want to blame the tax credit expiring) outperformed October 2008 in average sold prices being higher ($261,771 in '09 up from $250,172 in '08) AND the better absorption rate (4.9 months in '09 vs. 5.5 months in '08). Although there were a bit more than 300 more closings in October of '08, there were also over 3,500 more listings in '08, making for much more choice and much less competition (it's competitive today, believe it or not!).
Check out the stats: