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Home sale numbers continued to improve in March

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Retail home sales were up slightly in March over last year’s numbers - report our partners at the Greater Wilmington Business Journal.

The Wilmington Regional Association for Realtors released residential home sales numbers for March 2010.

In March, 374 units were sold compared to 278 sold in February. Those numbers also are up from March 2009 when 340 units were sold.

The average sales price was $221,616 and the median sales price was $171,518 for the month of March. The average sales price in March of 2009 was $216,185 and the median price was $175,000 in March of last year.

The average number of days on market was 138. The number of new listings on the market are 1,021, compared to 986 new listings in February.

These statistics apply to single-family residential home sales only.

Thanks, Greater Wilmington Business Journal
http://www.wilmingtonbiz.com/industry_news_details.php?id=1348

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Let's consider

this may not be as rosy a picture as painted.

Factor out sales which would not have taken place without the Federal home buying credits of $8,000 and $6,500.

Then factor out the "short" sales.

Now factor out the sale of foreclosed properties.

What's the real picture?

Most economists and clear thinkers predict 2011 will be the return date for realistic real estate market conditions.