The number of homes sold in Flushing rose 22% year to date vs. 2008. A pretty good sign.

Most of this increase was on the lower end of the price curve, with foreclosures available in the $15-$25,000 range investors absorbed a lot of inventory. The good news is these are buyers that were not in the market at last years prices so, I hate to say it, could this be the bottom? The price cycle has always been:

slowing sales....falling price....increasing sales....stabilization/increase in price

I would be happy with stabilization for now!

A real good sign is that through May of 2008 the highest price home sold in Flushing was in the low $300's in 2009 three sold of over $500,000.

The numbers:

Number of homes sold:

May 2009 36
May 2008 22

Average Sales Price:

May 2009 $93,537
May 2008 $131,308 (ouch!)

Year To Date Sales:

May 2009 124 @ $97,718
May 2008 98 @ $117,657

There are currently 279 active homes for sale in Flushing (according to the Flint MLS) so there is roughly a 7.75 month supply of homes, that number is getting so much better! Search Flushing homes for sale on ChangingStreets.com