WVAR June ’10 Monthly Indicators

The West Volusia Association of Realtors has recently contracted with a statistics company called 10K Media in order to generate market statistics from their multiple listing service (MLS) data. The results are extremely interesting. There are a few items that are of particular interest.  In all instances I look at the year to date comparisons on a year to year comparison. In this case, we are comparing the first half of 2010 to the first half of 2009. First, new listings have actually increased by over 7%. That was surprising as all Realtors have noticed the declining inventory so far this year. However, a closer inspection also shows that the same period reflects a 47% increase in closed sales and a 55% increase in pending contracts. These two factors seem to indicate that the market is rebounding successfully as buyers return to the market.

Median sale price continues to decline but you can see that at a 13% year over year decline, it has slowed considerably since the drops that we have had in previous years.

All in all, this is a very exciting report for anyone who is considering buying or selling in DeLand, Deltona, Orange City, Lake Helen or the other West Volusia Cities. There is a separate report which break out each area but that will have to wait for another day!