The number of available properties, or active listings, at the end of the month of July fell 13.4 percent from July 2008 to 46,598. That is 609 more active listings than one month earlier, in June 2009, and continues to reflect balanced housing inventory levels.

Month-end pending sales—those listings expected to close within the next 30 days—totaled 3,909, which was 17.8 percent lower than last year and portends another decline in sales when the August numbers are counted. The month’s inventory of single-family homes for July came in at 6.5 months, down from 6.7 months one year earlier. The national month’s inventory of single-family homes fell slightly to 9.4 months, according to the National Association of REALTORS® (NAR).

 

CATEGORIES JULY 2008 JULY 2009 PERCENT CHANGE Total property sales 7,108 6,744 -5.1% Total dollar volume $1,532,595,492 $1,437,300,889 -6.2% Average single-family sales price $224,104 $220,030 -1.8% Median single-family sales price $160,550 $163,000 1.5% Total active listings 53,779 46,598 -13.4% Total pending sales 4,758 3,909 -17.8% Months inventory* 6.7 6.5 -2.8%

* Months inventory estimates the number of months it will take to deplete current active inventory based on the prior 12 months sales activity. This figure is representative of the single-family homes market.