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percent compared to 2,095 in Aprilk 2008. Homes sold for an average of $112,366 for the down 8.4 percent compared to $122,68r in April last year. Foreclosure sales droppede 43.2 percent to 329 in April compared to thepreviouws April. Year-to-date, there have been 6,2343 total homes sales in the three-county down 23.5 percent compared to 8,154 in the same year-ag period. The total year-to-date sales volumee is $676.2 million, down 31.3 percent compared to $984.9 million in the same period last year. The average sales price year-to-date is $108,482, down 10.2 percen compared to $120,770 last year.
However, the average salexs price for all salez increased slightly from March to Aprip and pending sales were flat in that sametime “We continue to see slight increase in overall pricing, whichu could be an indication that our local market is stabilizinyg in terms of price,” MAAR president Jon Albrigh t said in a statement. “With pending salesw holding steady, inventory levels continue to decline, fallingv below 10,000 units for the first time sincee 2006.
” MAAR revised its sales reports afterd switching data sourcesin January, going from its Multiple Listing Service to MAARdata, a proprietary propert records database that captures every sale publicly recorded in Shelby, Fayette and Tiptoh counties. Because MAARdata includes all sales, not just those conductec by MAAR members throughthe organization’s MLS, it provides a more comprehensiv look at the local real estatse market, according to MAAR. In the past, MAAR pulled salea data for a given month on the 15th of the followin month to allow for the inherent lag indata recording.
Becaus e MAARdata relies on information frompublic sources, the organization discovered the lag time betweej when a sale closes and when it is recorded can be as length y as 30 days, leading to the revised sales information for January, February, Marcgh and April.
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