Midtown Montgomery Real Estate Sales Statistics - August 2008
The Pending Home Sales Index, a forward-looking indicator based on contracts signed in July, fell 3.2 percent to 86.5 from an upwardly revised reading of 89.4 in June, which had risen 5.8 percent from May. The July index remains 6.8 percent below July 2007 when it stood at 92.8.
Lawrence Yun, NAR chief economist, said home sales continue to edge up and down. “Pending home sales are oscillating month-to-month, with the long-term trend essentially flat,” he said. “Overly stringent lending criteria imposed by Fannie Mae and Freddie Mac in the past month no doubt held back contract signings.”
Let’s take a look at the Midtown Montgomery sales statistics for August 2008 to see how the Montgomery AL real estate market looks:
In Midtown Montgomery, pending sales decreased 24% in August 2008, compared against August 2007. Likewise, the number of sold listings dropped 22%. The average sales price decreased 11% to $162,606, and homes remained on the market for an average of 14 days longer this August.
|
Midtown
Montgomery |
Pending
Sales |
Sold
Listings |
Average
Market Times |
Average
Sales Price |
|
August 2008
|
38
|
36
|
110
|
$162,606
|
|
August 2007
|
50
|
46
|
96
|
$183,598
|
Information is provided by the Montgomery Area Association of Realtors and is deemed accurate but not guaranteed.
