Fewer Homes For Sale in June

July 20, 2011 (Chris Moore)

The number of homes for sale in June decreased slightly from May, but was almost 16 percent less than the number of homes for sale a year ago, and the prices sellers asked for those homes remained relatively flat according to data released by Realtor.com

The median list price for an existing home in June, which includes single-family homes, condos, townhomes, and co-ops, was $189,900, an increase of 0.52 percent from the median list price of $188,900 in May. The median list price was 0.05 percent lower than June of 2010.

The area with the largest year-over-year drop in the median list price was the Santa Barbara-Santa Maria-Lompoc, CA area where the median price has dropped 26.9 percent since June of 2010. However, the list price in that same area increased by 5.21 percent from May to June.

The area with the largest year-over-year increase in the median list price was the Fort Myers-Cape Coral, FL area where the median price has increased 31.23 percent since June of last year. Miami was the only other area to register a double digit increase in year-over-year list prices with an increase of 12.91 percent.

The average list price for an existing home in June was $316,846, which was a 1.49 percent increase from May’s average list price of $312,189, but 0.48 percent lower than June 2010.

Total listings of existing homes decreased 0.38 percent from May with a total of 2,339,395 single-family homes, condos, townhomes, and co-ops listed for sale in June. The number of homes listed for sale in June was 15.78 percent lower than in June of last year.

The average number of days that an existing home spent on the market in June inched up to 93, from 92 days in May, which also matches the amount of days that a home spent on the market in June 2010.

Tags: Realtor.com, housing inventory, listed homes, home prices, median sales price, average list price

Source:
Realtor.com