06/03/08 - Uptown Market Stays Strong
The story continues as Uptown shines in a slow market. As the number of sales have slowed the sales prices and price per sq ft remain positive in May.
Average prices increased from a year earlier to $334,000 from $204,000.
While more representative number shows Median prices increased to $223,000 from $156,000
Price per square foot increased to $192 from $164
The year to date numbers also look positive. Through May 08 as compared to the first 5 months of 2007 the numbers were:
Average Prices increased to $334,000 from $297,000
Median prices increased to $236,000 from $228,000
Price per sq ft increased to $186 from $180
While all these numbers are positive the number of reported transactions are down. One important take away is that the tightening of credit markets and the media's never ending stories have slowed the number of transactions in the homes priced under $200,000.
*Numbers rounded
*data compiled from NTREIS
No comments:
Post a Comment