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February 20th, 2008 10:58 AM by David W. Welch
Here are some numbers from yesterday. 27,202 - the number of homes for sale. 2,061 - the number of sales pending. 421 - the number of pending sales that are listed as pre-foreclosure or foreclosed properties. 370 - the number of closed sales so far this month. $248,900 the median list price of the pending sales. $230,000 the median sales prices of the homes that have sold.
There are two encouraging trends in these numbers. First, the number of pending sales continues to climb fairly rapidly for the second month in a row. Second, the median price looks to have rebounded somewhat from last months low. For all of the buyers that are still waiting, mark this in your calendar. David Welch is calling January 2008 as the bottom. I am looking for continued improvement as we get ready to enter the Spring.