Home Sales Clawing Back?

Homes sales in Dekalb County showed signs of promise in June, compared with recent trends. According to local multiple listing services provider Realtracs, there were 11 homes sold in the month here, just one off the 12 sold a year ago. Average sales price was a near match, at $135,636 for the month, compared with $134,625 a year ago.

A notable change, however, is in the number of houses on the market: 266 now, compared with 236 a year ago.

The June numbers don’t begin to reverse the year’s overall trends, however. Through the first six months of 2009, 59 homes listed on RealTracs were sold, compared with 95 through the first half of 2008. That’s a decline of 38 percent, and 2008, it should be remembered, was an off year.

Nevertheless June’s sales suggest seeds of a residential market revival may have been sown, and the worst may behind us. Only time will tell.

Not so for land sales, however. Only 4 listed parcels changed hands in June, compared with 7 a year ago, a 43 percent decline. Average selling price was up, however to $71,750, compared with $50,414 for the month last year.

It continues to be a tough year for land sales, overall. Through the first six months of 2008, 74 parcels had been sold, only 25 through June 2009. If there is a bright spot, it is there is much less on the market. Daily average through June shows 547 active listings for land, lots and farms, compared with 617 in 2008.

Apparently many property owners have decided to wait until more demand is there.