Monday, July 5, 2010

June real estate listings and collapsing real estate sales

Real estate listings in Central Pennsylvania are at an all-time high.

I do not subscribe to MLS.com, but Realtor Ann Wright has provided to me figures for the end of June from that multi-list service. According MLS.com, as of June 30, 2010 (the numbers change slightly from day-to-day), there were 5,489 listings in Central Pennsylvania. (This includes, York, Cumberland, Dauphin, Lebanon, Perry, Lancaster and parts of Adams and Juniata counties). This number is higher than at any point since such statistics were compiled.

Of those 5,489 listings, MLS.com reports that only 1,001 are currently the subject of a pending sales agreement.

This large volume of listings places great downward pressure on prices. This information is consistent with recent reports of collapsing sales nationwide and in the northeast region.

Thanks to Ann Wright at Re/Max for her assistance. Anyone with related information or personal experiences are invited to e-mail me.

Ann Wright

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