Trumbull County Real Estate Market Indicators April 2012

The real estate market in Trumbull County continues to trend in a positive direction.  

Year to Date 2012 compared to the same period in 2011 comparisons:

• New listings taken are down 16.8% and overall inventory is down 23%, bringing the months' supply of inventory down to 8.9 months from 12.3 months in April of 2011. 
• Pending sales are up 6.1% and closed sales are up 4.9%.  It is taking, on average, 173 days from listing to closing, up 4.6%, and homeowners are getting an average of 85.4% of their listing price, showing no significant change from last year.
• The median sales price of $67,700 is up 6.6% over last year, and the average sales price of $78,137 is also up by 6.3%.

The market improvement, although less than dramatic, continues to trend in a positive direction.  Lenders are beginning to expand their loan products and guidelines helping more buyers qualify for loans.  This is good news for homeowners and perspective buyers and, hopefully, will lead to a more normalized marketplace where more sellers can sell and more buyers can buy.

To read the complete report including charts and graphs going back to 2004, click on '1 Attachment' in the gray bar below this blog post.