Although 2nd quarter median sale price is down again (5% when compared to the 2nd quarter of 2010), the number of sales boomed (up 28% for the same period). If the number of sales continues to improve as it has over the first 2 quarters, through 2011 and into next year, we may begin to see some price improvement late next year.
Projecting 2011 numbers based on the results of the first half of the year and considering current pending sales, indicates that 2011 very well may be the turning point for the real estate market here in my market area. Continued improving sales quantities will stoke the fire for increasing values down the road.
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