House Sales/Price Data
Home Prices in 20 Major Cities: You're OK If... “The average experience in the 20 largest metropolitan areas is that July 2004 marks the dividing line between profit and loss. Phoenix: If you bought before January 2005 then you probably have a profit. Los Angeles: Before April 2004. San Diego: Before September 2003… Washington D.C.: Before September 2004. Miami: Before September 2004. Chicago: Before January 2005… Minneapolis: Before April 2003. Charlotte: Before April 2007. Las Vegas: Before March 2004. New York: Before March 2005… Dallas: Before March 2006. Seattle: Before June 2006. The average buyer who purchased a house after the months noted above has a loss. These conclusions are based on the [latest] S&P/Case Shiller Home Price Indices.” (Bill Conerly in Seeking Alpha, July 30th)
Hamptons Home Prices Fall on Wall Street Jobs, Economic Outlook. “Appraiser Miller Samuel: Home prices in the Hamptons, the summer haven of New York financiers and socialites, fell almost 12% in Q2 from a year earlier… Sales dropped 26% and the median price slid to $970,000 in the resort towns on the East End of Long Island. Hamptons homes took an average of 143 days to sell in Q2, up 18% from Q2’07... Sellers got an average of 9% less than their final asking price.” (Bloomberg, July 30th)
Shock, Horror: Hamptons’ Home Prices Take Hit. “Broker Prudential Douglas Elliman: The average price of a home in the Hamptons fell 12% to a still far-from-cheap $1.7 million in Q2’08 from Q2’07… The inventory of unsold homes in Q2 jumped by 37%.” (Crain’s NY Business, July 29th)
NYC Prices And Permits Rise, Sales Fall. “The Real Estate Board of New York, a real estate industry trade organization: Average sale prices for New York City homes rose 12% year-over-year in Q2 to $824,000... The price of condominiums and cooperatives throughout the city jumped 21% year-over-year in Q2 to $1.01 million. And the average condo sale price in Q2 rose 33% in Manhattan compared to Q2’07, to $1.83M… NYC residential building-permit activity rose 325% in June 2008 compared to June 2007, with 17,000 permits issued throughout the five boroughs in June 2008. About 26,850 permits were issued In H1’08, compared to 16,650 for H1’07.” (Inman.com, July 30th)
CAR Median Home Prices Down Sharply; Expecting Another Wave Lower. “California Association of Realtors Chief Economist Leslie Appleton-Young: Home sales increased 17.5% in March-June in California compared with March-June 2007. The median price of an existing home fell 37.7%. "Sales were driven in part by large shares of deeply discounted distressed sales in many parts of the state… Affordability also has improved significantly… paving the way for… first home [buyers]… A year ago, the under $500,000 price range accounted for 40% of sales, the middle segment made up about 45%, and the over-$1 million segment captured 15% of the market. As of June 2008, the shares had shifted to 67%, 24%, and 9%, respectively." (Michael Shedlock in Seeking Alpha, July 30th)
Home Prices Fall in May; Consumer Confidence Is Flat. “S&P/Case-Shiller index: Home prices, already falling at the steepest rate in two decades, tumbled again in May… Prices were down 15.8% from May 2007, including a 0.9% one-month drop in May alone. The 10-city price index, which dates to 1988, dropped 16.9%, its sharpest decline on record. All 20 cities measured by the index showed annual declines in home values, and 10 cities have suffered double-digit percentage declines in the last year. Miami and Las Vegas have fared the worst, with prices in each city dropping more than 28% since May 2007… Prices in seven regions, including Boston, Dallas and Charlotte, improved in May, some for the second straight month.” (NY Times, July 30th)
Average Home Prices Down 15.4% In D.C. Area. “Existing single-family home prices in the D.C. area fell an average 1.01% from April to May, and 15.4% from May 2007.” (Washington Business Journal, July 29th)
Prices Slip, Sales Plummet In Weak Housing Market. “Utah: Salt Lake Board of Realtors: home sales in Tooele County fell 36% in Q2’08 compared to Q2’07 — a larger drop than in Salt Lake, Davis, Weber and Utah counties. For the same period, median sales prices in Tooele County declined 6% to $183,300 — again the largest drop of the five counties. Kelly Matthews, chief economist for Wells Fargo & Company in Salt Lake City, said Tooele County’s decrease in home sales may be partly caused by rising gas prices.” (Tooele Transcript Bulletin, July 29th)
Delaware County Housing Prices Decrease. “Prudential Fox & Roach realtors: Delaware County median home prices decreased 6.1% to $205,000 during H1’08. The median sale price in H1’07 was $218,250. In H1’08, the county saw 2,595 homes sold, a 28.5% decrease compared to 3,630 homes sold in H1’07. The average number of days a home remained on the market increased from 57 days in H1’07 to 72 days in H1’08. Additionally, monthly average inventory for H1’08 was 4,450 compared to 4,201 in H1’07. To sell the entire inventory listed during June 2008, it would take 7.7 months, compared to 4.8 months during June 2007 and four months during June 2006.” (Town Talk, July 29th)
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