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Realtors: Home sales down from record month in April but higher than a year ago

Regional home sales were down in May from the record month in April but still higher than a year ago, according to a report released this past week from the Longview Area Association of Realtors.

Realtors in the 10-region sold 295 homes in May, up about 12.6 percent from 262 homes sold a year ago. April was the six-year record at 307 homes sold.

The average home price also increased about 5.5 percent from $183,811 in May 2017 to $193,930 this past month.

Homes stayed on the market an average of 114 days in May, seven more than a year ago.

Within Longview ZIP codes, Realtors sold 98 homes in May, up about 16.7 percent from 84 sold a year ago. The median home price dropped about 6 percent from $168,500 a year ago to $158,400 this past month.

Homes ranging in price from $100,000 to $199,999 accounted for 58.9 percent of all sales, following by 16.7 percent for homes selling for $200,000 to $299,999.

The increase in home sales is a sign the economy is improving, said Lori Keebaugh, owner of Keebaugh & Co.

“I think a lot of that has to do with the economy; the oil coming back,” said Keebaugh, who has had a broker’s license for 12 years and opened her company a year ago. “I’ve noticed that when the economy appears to be better, people are more confident (about home buying), and I just think that is where we are at.”

The association’s data is based on its Multiple Listing Service, which represents about 85 percent of total sales in the market. It does not capture sales by owners or some sales of new construction by builders.