Home sales in DeKalb County matched those of a year ago for April, breaking with recent trends, but the monthly sales could not offset the declines seen in the first quarter of the year.
According to RealTracs, the area Multiple Listing Service, the 19 homes sold in April matched up exactly with those sold a year ago, in numbers. But the selling price of those homes was off $45,000 compared with 2007, $120,952 this April against the average selling price of $165,547 in April 2007. Throughout the month, an average of 225 homes were up for sale each day, compared with 195 throughout April 2007. There’s more inventory, but a smaller share were sold.
Year to date homes sales here show a 22 percent decline through April. To date, a total of 64 homes were sold within the county, compared with 82 through April 2007. Average selling price, however has held its own through the first four months, $134,882 versus $135,519 a year ago.
Land sales for the first third of the year look better, despite a near stagnant April. Year to date 63 parcels have been sold, at an average selling price of $69,217, 16 more than sold the first four months of 2007. At the end of April a year ago 47 parcels had changed hand, at an average price of $79,217. Despite the action, there’s still much inventory for the market to absorb, On average, 569 parcels were up for sale through April, compared with 436 a year ago.
Look at sales for April alone and it seems reasonable to assume the situation can only improve. Just two parcels sold in April 2008, compared with six the same month a year earlier. Average selling price: $26,666 then and $33,500 now. But April sales didn’t even begin to eat into the monthly average of 608 land, lot or farm listings.
With May, we enter a proving ground. By month’s end we should have a much better idea if the year’s slow start will be followed by a resurgent market, or if trends which have softened the real estate market in other ares are also at play here.
