Third quarter sales of homes in my market area show continued improvement in the number of homes sold. This quarter realized a 31% increase in the number of sold homes over the same quarter of last year. That makes 3 consecutive quarters of significant improvement in the number of sales. And, there are enough homes under contract today that the 4th quarter will also show improvement over the 4th quarter of last year, and, when this year closes out, we will have realized more homes sold this year vs last year and more homes sold in 2011 than in 2009 too. The median sale price shows another decline but I’d like to think that the rate of decline is slowing. We know, from studying the last downturn, that value is the lagging indicator. The question of the day is “How many quarters of improved sales do we need to experience before value starts to increase?”
Property Type Residential Include Property Subtype SFR Stick Built Cities Atascadero, Bradley, Cholame, Creston, Paso Robles, San Miguel, Santa Margarita, Shandon, Templeton Status Sold (7/1/2011 to 9/30/2011) Price 1,000 or more
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