Good news Stark County we are in the plus column for our Year-to-Date figures over last year. Our new listings are up 7% from last year, our Pending Sales are up by 3.7%, and we have closed 5.8% more homes from last year. These figures are as of the end of September 2010.
Our number of Days on the Market has inched up a little bit from 98 last year to 103 this year. My number of Days on the Market continues to be much better than the averages at 51.2 DOM. Last year our Average Sales Price was $104,650 and this year-to-date it is $107,346 which is up 2.6%.
The Housing Affordability Index for Stark County is a formula that measures housing affordability for the Regional Housing Market. An HAI of 120 means the median family income is 120% of the necessary income to qualify for the median priced home using a 20% down, 30-year fixed rate mortgage. We are at 200 this year-to-date which is up 3.7% from last year, but a whopping 31.3% from two years ago.
We aren't out of the woods yet, but I think it is safe to say we are turning the corner. Stay tuned!
If you ever have any questions about anything real estate related you can reach me at 330-491-4600 or email at MKlee.@KW.com
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