For the month of June there are currently 501 properties on the market, as well as 103 Homes under contract. But only 54 made it to closing for the month. That equates to a 10 month inventory on the market.
Now of the 501 houses for sale, 107 are in some stage of foreclosure (22%)
And of the 103 homes under contract, 58 are in some stage of foreclosure (56%)
and of the 54 closings, 24 of them were in some stage of foreclosure (44%)
There are presently 80 Condo's for sale, with only 3 under contract and only 1 being sold the entire month of June That would make for almost 7 years inventory levels.
Of the 80 condos for sale 9 are in some stage of foreclosure (11%)
Yet no condo under contract or that closed in June had any foreclosure issues which i find very surprising. So between Houses being so affordable, especially with the $8.000 tax credit for first time homebuyers, and the fact that you need 30% down for a condo, has all but killed that market.
And what a wide selection of properties we have available. Prices Range from $20k-1,275,000
Daniel J. Hunter
Fruits Real Estate Services Inc.
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