Pending Sales Continue to Increase, Inventory grows as well during June 2009

The number of homes that were placed under contract during June 2009 (83), was 12% higher than the previous month, and 24% higher than during June 2008.  Both factors are signs the Whidbey Island market is improving. 

However, the number of homes available for sale increased 11% from May 2009, to nearly the same number one year ago.

Sales prices are still declining, but at a slower rate than during the first quarter of 2009.  During June 2009, the median sales price for single family homes and condominiums was $265,000, which is 4% less than the median price of $276,000.  The average sold price for homes sold during June 2008 was $292,000 which is 14.6% less than one year ago ($342,000).

Homes that were sold during June 2009, sold on average for 92% of the original listed price, and were on the market for 167 days. 

For more information:  june-2009-stats1