August brought us a continuation of our busy year and we don’t sense that the fall will slow down.
There was a new record for the number of units sold in August, the number of condo units sold was up 22.1% over August 2017 and residential listings are selling almost 30% faster than they did at this time last year. We do have some positive news for buyers…there were far fewer multiple offer situations in August however sellers are still receiving their asking price or very close to it solidifying that we are still in a sellers market.
The most active price point for residential sales is $300,000 to $499,999 accounting for 55.6% of market sales with condos price point being $150,000 to $249,999 accounting for 49.5% of market sales.
We have a total of 1,538 units sold on MLS this August with 1,179 of those being residential and 359 units being condominium units. We are up a total of 3.8% from total units sold in August of 2016
The average sale price of residential units is $420,335 up 7.6% over August 2016 and $270,768 for condo units, down 0.4% from August 2016.
As always, please let us know if you have any questions at all about our current market or about buying or selling!