Here are July's Eastside Statistics:
• Eastside pending sales are up
• Eastside inventory is down
• 48% of July 2009 closed Eastside residential sales under $500,000
• 80% of July 2009 closed Eastside residential sales under $750,000
What does it mean? It means there are less homes on the market and more are selling which could be leading us back into a balanced market. However, it also shows that more people are buying in the lower price point as a percentage of sales than they were last year which could be due to the difficulty that still remains when it comes to finding jumbo loan products with favorable down payment amounts and interest rates.
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