How Summer “panned out”…
Augusts’ real estate statistics compared to July’s statistics give some optimism that the market is stabilizing. July was full of negative numbers with volume of sales decreasing, average sale prices decreasing, median prices decreasing and number of listings peaking at a 14% higher than the previous year. August has seen a pleasant turn from that scenario with modest increases to average and median sale prices across the board and a modest drop in the number of properties available at month end. These figures are slightly skewed by twenty five single family homes that sold over $1 million in the month. September will be a pivotal month to see if this is a trend or just a blip up in a market that keeps absorbing negative economic news as the economy fights taking a down turn.
