No good news in October sales numbers

Add comment November 1st, 2007

The housing slowdown in the Rock River Valley showed no signs of ending in October as fewer sold, the average price fell and they took longer to sell.

In October, according to preliminary figures from the Rockford Area Association of Realtors, real estate agents sold 469 houses and condominiums, the lowest total for an October since 2000. It marked the 16th straight month sales were down compared year-over-year.

The average sale price, which has been holding its own despite the slowdown, also fell 2.3 percent to $141,142. The big decline was in existing homes, which sold for an average of $123,283, down 3.8 percent.

In October 2007, homes spent an average 73 days on the market before selling — up from 61 days a year ago and a low of 53 days in October 2003. Existing homes this October sat on the market for an average 68 days; new homes took an average of 90 days — nearly three months — to sell.