August Residential Sales Up Over August of 2015
The summer market has continued to be a very busy one with sales exceeding last August by 20%.
The average sale price for single family homes in the Region for the year was $323,616 up 9.6% over 2015 for the same timeframe. While sales were down 5% from July the average sale price for August was $344,233 an increase of 5%
Over the July average sale price of $321,212.
Inventory levels are still low which is typical for August however we only have 1.4 months of inventory and the Sales to listings ratio is high at 91% still indicating a very strong sellers market.
The average days on market currently stands at 37 days, with 6 of the sales districts showing less than 30 days.