Posted by Purva Brown on May 19th, 2009
86 homes sold in Lincoln this April, pretty much in line with the numbers for last April. Unit volume shows a modest increase of 4.9% year over year, which is nothing to write home about. However, what is interesting to note is that foreclosure sales have dropped 23% year over year while short sales have gained 200%. Non-distressed sales remain mainly unchanged for the same period. 2 out of 3 homes sold are currently distress sales.
Average sold price per square foot is currently $125.85 down 11.4% from last April’s $142.07. Average sales price is $298,676, also down 11.5% year over year from a high of $337,327. Median sales price is $277,450. That’s a fall of 13.3% year over year from a high of $320,000.
Inventory is at 5.4 months based on the last year of sales and 6.1 months based on the last six months of sales. Foreclosure inventory in the Lincoln area is at 0.7 months and 0.8 months respectively.