As strange as it may seem, the summer real estate market continues to show a volume of sales far above what we normally see at this time of the year. Comparing the last 30 days to the same period last year we see that the volume of sales of single family homes is 40% higher this year. This is truly outstanding! If you had a house for sale. and it has sold. it is because you offered a home in very good condition and priced it correctly for the current market - that likely means an asking price lower than you would like. Well priced homes are selling fast and while others are not selling. Pricing is down compared to last year and if you find that your home is not selling, price is very likely a big part of the problem.
The condo market continues to perform much as it has for the last several months and that is below average. The volume of sales is down and so are selling prices. It seems to us that it will take lower asking prices from the condo sellers to get that section of the market moving - especially for the older condos.
Here are the raw stats:
Over the last 30 days, 315 single family houses were sold, down by 5 houses from last week. The median price is up $9,000 to $540,000. The average house was on the market for 47 days. In the last 30 days, 109 condos were sold, down by 12 condos from last week. The median price is up $2,000 to $260,000. The average condo was on the market for 54 days.
There are now 2,142 houses for sale, down by 02 from last week. Condo inventory has risen by 14 to 944 suites.
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