With the change in Tri City Association of Realtors accounting of active listings (for sale) and under contract it is difficult to compare these statistics of the previous year.  Trends that can be followed are the sales, average and median prices. The sales for September 2009 are 14% less than they were September 2008.  The average price dropped from $196,900 September 2008 to $194,000 September 2009; while the median prices increased from $165,000 to $170,000 during the same period.  When we consider both statistics, we really have seen much change in our prices during the last year.  I believe we are on the eve on increased prices again.

It seems clear that not only is our inventory (homes for sale) less than a year ago; our total sales are less as well.   Homes priced less than $225,000 seem to be favor sellers while homes price above $325,000 lean towards a buyer’s market. Homes priced above $425,000 can be categorized as being in a severe buyer’s market.   Older homes in the upper price ranges are having difficulties competing with the newer homes.  Sixteen percent of our total inventory is new construction.