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Business and Finance
Tue, September 22, 2009 ZipRealty: Total Number of Home Listings Down in August, According to ZipRealty
EMERYVILLE, CA--(Marketwire - September 22, 2009) - The number of homes for sale declined nearly three percent in August, compared to July, and is down more than 23 percent compared to a year ago, according to a monthly local market survey of home listings based on Multiple Listing Service (MLS) data in 25 metropolitan markets conducted by the national real estate brokerage ZipRealty ([ www.ziprealty.com ]) (
Other highlights from ZipRealty's August Housing Inventory Index ([ http://ziprealty.typepad.com/marketconditions/ ]) include:
-- Housing inventory in the San Francisco Bay Area declined 7.6 percent in August, compared to July, and is down 48.9 percent year-over-year -- the largest month-over-month drop across the 25 markets surveyed. -- Other markets with significant month-over-month declines include Orlando (5.1 percent), Washington, D.C. (4.7 percent) and Boston (3.9 percent). -- Salt Lake City remained statistically unchanged in August with no movement tracked in inventory. -- The worst may be over in Las Vegas, with home listings declining 3.4 percent in August but the median list price unchanged for the fifth consecutive month. Inventory in Las Vegas is now at the lowest level ever tracked by ZipRealty in the four years that ZipRealty has tracked this information. -- The Florida housing market continues to show signs that it has yet to hit bottom, as housing inventory and median list prices slipped in Miami, Orlando and Tampa. Inventory in Jacksonville increased slightly (.01 percent), though the median list price declined 1.39 percent to $177,000.
Following is a snapshot of the housing inventory across all 25 metros that ZipRealty tracked in August 2009:
Home Percentage Percentage Inventory Change: Change: Market Name (SFRs and Condos) Month-over-Month Year-over-Year ---------------- ---------------- ---------------- ---------------- Overall Market Total 606,187 -2.74% -23.54% ---------------- ---------------- ---------------- ---------------- Austin 8,805 -3.8% -19.6% ---------------- ---------------- ---------------- ---------------- Baltimore 9,479 .1% -9.8% ---------------- ---------------- ---------------- ---------------- Boston 33,641 -3.9% -8.7% ---------------- ---------------- ---------------- ---------------- Charlotte 19,840 -2.7% 9.7% ---------------- ---------------- ---------------- ---------------- Chicago 71,996 -2.5% -14.8% ---------------- ---------------- ---------------- ---------------- Dallas- Ft. Worth 36,206 -2.5% -10.1% ---------------- ---------------- ---------------- ---------------- Denver 18,160 -2.3% -13.5% ---------------- ---------------- ---------------- ---------------- Houston 28,846 -1.7% -19.2% ---------------- ---------------- ---------------- ---------------- Jacksonville 11,184 .1% -14.3% ---------------- ---------------- ---------------- ---------------- Las Vegas 12,660 -3.4% -44.4% ---------------- ---------------- ---------------- ---------------- Miami 50,945 -4.4% -36.7% ---------------- ---------------- ---------------- ---------------- Minneapolis- St. Paul 22,958 -2.7% -21.7% ---------------- ---------------- ---------------- ---------------- Norfolk/ Virginia Beach 11,855 -.2% -3% ---------------- ---------------- ---------------- ---------------- Orlando 22,218 -5.1% -33.3% ---------------- ---------------- ---------------- ---------------- Philadelphia 35,273 -1.7% -8% ---------------- ---------------- ---------------- ---------------- Phoenix 29,550 -1.4% -42.4% ---------------- ---------------- ---------------- ---------------- Raleigh/Durham 15,124 -1.9% -9.5% ---------------- ---------------- ---------------- ---------------- Richmond 8,934 -1.8% 5% ---------------- ---------------- ---------------- ---------------- Salt Lake City 16,733 0% -12.4% ---------------- ---------------- ---------------- ---------------- San Francisco Bay Area 18,586 -4.1% -46.9% ---------------- ---------------- ---------------- ---------------- Sacramento 15,240 -1.7% -33.5% ---------------- ---------------- ---------------- ---------------- Seattle 32,115 -1.8% -19.6% ---------------- ---------------- ---------------- ---------------- Tampa 39,107 -2.5% -26.3% ---------------- ---------------- ---------------- ---------------- Tucson 5,392 -1.5% -21.8% ---------------- ---------------- ---------------- ---------------- Washington, D.C. 32,760 -4.7% -32.6% ---------------- ---------------- ---------------- ----------------
To view other local market housing conditions, visit ZipRealty's updated blog at: [ http://ziprealty.typepad.com/marketconditions/ ]. To view all MLS-listed homes across all major metropolitan areas that ZipRealty operates in, visit [ www.ziprealty.com ].
About the ZipRealty Housing Inventory Index
ZipRealty pulls data from Multiple Listing Services in 29 of the major metropolitan areas where the real estate brokerage operates in nationally. The data in this report is based on properties listed for sale according to the MLS in the metropolitan areas identified. In August 2009, ZipRealty reported data for 25 metros. Due to changes to how homes are tracked by the California MLSs, data from Los Angeles, Orange County, San Diego and Bakersfield/Fresno, Calif. was omitted. The company pulls all data on the last day of the month for each of these markets. Additionally, the metropolitan areas ZipRealty cites as part of its monthly report are defined by the brokerage, and may differ slightly than standard DMAs.
About ZipRealty
ZipRealty is a full-service residential real estate brokerage firm. The Company utilizes its user-friendly Web site and employee real estate agents to provide home buyers and sellers with high-quality service and value. ZipRealty's Web site provides users with access to comprehensive local Multiple Listing Services' home listings data, as well as other relevant market and neighborhood information. The Company's proprietary business management system and technology platform help to reduce costs, allowing the Company to pass on significant savings to consumers. Founded in 1999, the company operates in 36 major markets in 22 states and the District of Columbia. For more information on ZipRealty, visit [ www.ziprealty.com ] or call 1-800-CALL-ZIP.
