It will be a few days before I have the full Market Conditions Report out with May's closed sales data. Its not looking that bad. Sales are way down from a year earlier (the 91 single family sales in the Sullivan MLS for the 3 month period ending May 31 are off 43% from a year earlier), and the median sales price is off 24%. As woeful as those year-over-year numbers may look, there is good news. The 91 single family sales for the 3 months ending May 31st were just about equal to the previous month — reversing the precipitous drop off in sales rate we saw during the 1st quarter. And the median sales price has held steady at $150,000 for 3 months in a row.
More info in the next few days.