As we move towards the end of 2010 we’re getting a good look back at the year. Last Thursday NAR released a report on pending home sales. The Pending Home Sales Index is a leading indicator for the housing sector, based on pending sales of existing homes. A sale is listed as pending when the contract has been signed but the transaction has not closed.
Pending homes sales in the Northeast were down 28.3% in September compared to a year ago. I’m pleased to announce that for our 6 Coldwell Banker offices in Monmouth County, our new contracts are only down 5% over last year. Considering the times we’re in I’m pleased that we’re outperforming the Northeast region by such a wide range.
In addition to the good comparison to last September, our new contract units are up for the whole year 12%, and our average sales price is also up 3% this year.
It certainly hasn’t been easy. I’m proud of how well Coldwell Banker has done compared to the market and know that Coldwell Banker is in the best possible position to thrive as the economy improves.
If you have been contemplateing about selling or buying; call me and I will be glad to discuss and show you what the market is doing and how it applies to your situation.
No Obligation! 732-245-4031 my cell.