List prices back to last year's mark

Inman News

Editor's note: This report is based on Realtor.com's October 2012 Real Estate Trend Data Report. The report covers 146 U.S. metros, and includes single-family homes, condos, townhomes and co-ops.

For-sale inventory hovered near a five-year low, but median list prices slipped in October back to the same level as a year ago, Realtor.com reported today.

Inventory stood at 1.76 million units at the end of last month, down 17 percent from a year ago and 40 percent below a September 2007 peak of 3.1 million.

Despite the scarcity of listings, median list prices slipped 0.83 percent from September to October, to $189,900 on average -- the third straight month-to-month decline.

Median age of inventory at 97 days was down 11.81 percent from a year ago, but demand still seemed to be slipping.

"The recent erosion in the median list price may foreshadow a dampening of recent increases in housing prices," Realtor.com noted.

Annual change in listings, inventory and median list price

Data point Percent changefrom year ago 2012 October 2012
Number of listings -17.00% 1.76 million
Median age of inventory (days) -11.81% 97
Median list price 0.00% $189,900

Source: Realtor.com

Of the 146 metros Realtor.com tracks, 71 posted annual gains in list price, 31 remained steady, and 44 showed declines.

Letter to the Editor

View Comments