Sales data for the summer months of June, July and August is
now available and shows considerable strength in the market.
There were 4363 closings during the summer, which is above last
year’s figure of 4238 closings.
The median market time was 18 days on market,
versus 27 days last year.
Single family prices show three straight months of 6%
Condominium pricing having a 5% growth over similar months in
Inventory levels remain tight, coming in at around two months. Active listings in
August 2017 came in at 834 compared to the prior year at 1176.
Single family homes continue to receive the greatest amount of
competition, with purchasers paying an average of 17% over list price, with
a high 69% over list price and a low of 78% of list price.
It appears to be that we are headed into an active fall market, with
a substantial increase in inventory.
The number of active listings increased 35% during the month of September 2016, compared to August 2016. We will see what this month brings as we get further in to the month.