The single family home market continues to see reduced volume of sales while the median selling price is apparently climbing, in general. As I mentioned previously, at this point we are not convinced that pricing of homes is actually rising. Instead, we see the selling prices of individual homes remaining stable. Fewer first time buyers in the market buying low cost entry level homes is pushing the average price up and the volume of sales down at the same time.
Now that September is approaching, we are about the enter a traditionally busy time of the year. In previous years, we have almost always seen a pickup in business as the kids go back to school and everyone else goes back to work. If you are considering selling your home before Christmas, now is the time to get it on the market. As always, work closely with your agent to come up with a realistic selling price. With a correct price, your agent will be more onboard and dedicated to your listing, and you will have a greater chance of success. Good luck to you!
If you don’t already have an agent, please consider interviewing a member of our team. We have had a great summer of success for our clients and would love to work for you as well!
Here are the stats for the last 30 days:
204 single family houses were sold, down by 22 houses from last week. The median price is down $21,750 to $533,250. The average house was on the market for 48 days.
In the last 30 days, 111 condos were sold, up by 2 condos from last week. The median price is up $25,000 to $275,000. The average condo was on the market for 51 days.
There are now 2,447 houses for sale, down by 16 from last week. Condo inventory has fallen by 8 to 1115 suites.