You are an idiot! I dont know why I even bother but here goes. For a science teacher you can’t even handle basic math. I said the total would reach around 1300. That isnt dropping it is an increase over last year. Its a decrease in a volume of 9% from 2005 and 12% from 2004. Face it, you are dead wrong. There is no interpretation necessary.
You never asked for pricing. But here goes anyway. There is no way for me to calculate median prices across this data as the MLS system doesnt support that but I can provide the average price numbers. I also provided avg sq ft which is available as well. It’s the best we got.
2004 2,684 sq ft $1,072,428 ($400/sq ft)
2005 2,624 sq ft $1,176,811 ($448/sq ft)
2006 2,703 sq ft $1,252,146 ($463/sq ft)
2007 2,701 sq ft $1,206,357 ($447/sq ft)
It is important to note that $/sq ft typically decreases as the size of the house goes up because there are many major fixed costs that arent impacted by size (land, 1 kitchen, 1 HVAC system, 1 electrical system, 1 approval/permit process etc.)
So we have 2007 price/sq ft equal to 2005. If you consider its a bigger avg size house it actually went up a little and is much higher than 2004. We see a 3% decline since last year in pricing.
Volume is up from last year, inventory is down from last year, prices are slowly declining. That is what I call the appearance of balancing. Where we go from here is anyone’s guess but your wild claims are just plain wrong at this time.
