September Resale Statistics are Here!

September was a disappointing month for sales - about the only silver lining to this otherwise grey month in housing was that the median price didn't fall as sharply as it did in August.

Here are the detailed numbers:

Total number of active listings on the market on or before September 30, 2007: 11457

Total number of homes sold in the month of September: 732

Median price: $311,000 - a small drop from August's median of $314,000.

Days on market have fallen to 61 from 63, but this is little good news.

Perhaps, the most interesting detail to these numbers is the bank-owned and short sale properties. For 1703 active short sales, with an average 113 days on the market, only 17 sold last month for a median price of $296,500.

For bank-owned (REO) properties, 191 homes sold last month for 2107 active listings. Both the average days on the market and the median prices seem encouraging for first-time buyers for REOs - at 67 and $253,000 respectively.

Also see: Last month's market update.