JUNE 2012 RESIDENTIAL HIGHLIGHTS

Every measure of real estate activity is positive when comparing June 2012 with June 2011. There were 2,435 accepted offers, 21.7% more than the 2,001 reported in June 2011 although down slightly (-3.4%) from last month. The 2,244 closed sales represent a 14.6% increase over the same month last year, when 1,958 were recorded and 7.0% more than the 2,098 sales in May. This represents the highest number of closed sales since August 2007 when there were 2,554 closings.The unsold inventory in months dropped again in June and continues to be the lowest it has been since March 2007 when it was 3.8. It would take only 3.9 months to sell the 8,799 active listings at the June rate of sales.SALE PRICES: Home sale price measures were all positive in June. The median sales price rose 8.6% when comparing June 2012 with the same month in 2011 and 2.9% when comparing the first two quarters of 2012 to that period in 2011. This is the third consecutive month in 2012 that the median home price has risen.