Real Estate Market Update: 4th Week of August

As we get back into the swing of things after the holiday weekend, it’s obvious that the last week of August felt a cool down in market activity. The last week of July was very active compared to this last week of August, especially for homes under one million. It’s typical in our market for Holidays to influence home buyers and sellers, but don’t worry, my money is on an influx of new listings surfacing as we move through the first week of September. We’ll just have to see next week when we look back at the market activity. Days on market for the last week of August floated upwards, and sale price % to original list price overall stayed above 100%, showing a continual strong buyer presence. There was a dip in the sale price % for properties that closed over one million from last week. Condo activity under one million proved to be quite vibrant considering such a slow market week for the end of August. The upshot is our market is still active and stable as we move towards the end of summer.

SINGLE FAMILY HOMES ACTIVITY

Fourth week of July (up to $1,000,000)

Active = 1 ($649,000)

Contingent = 1 ($749,000)

Pending = 0

Sold = 4 ($650,000 - $911,000)

The average Days on Market for Sold properties is 47. The average Sale Price % to the Original List Price is 102%.

Fourth week of August (up to $1,000,000)

Active = 1 ($525,000)

Contingent = 5 ($550,000 - $975,000)

Pending = 5 ($739,000 - $995,000)

Sold = 1 ($700,000)

The average Days on Market for Sold properties is 42. The average Sale Price % to the Original List Price is 104%.

 SINGLE FAMILY HOMES ACTIVITY

Fourth week of July ($1,000,000 or more)

Active = 6 ($1,495,000 - $3,650,000)

Contingent = 0

Pending = 0

Sold = 10 ($1,074,000 - $2,800,000)

The average Days on Market for Sold properties is 43. The average Sale Price % to the Original List Price is 101%.

Fourth week of August ($1,000,000 or more)

Active = 2 ($1,295,000 - $1,595,000)

Contingent = 2 ($1,099,000 - $1,695,000)

Pending = 0

Sold = 4 ($1,950,000 - $4,760,000)

The average Days on Market for the property that Sold is 65. The average Sale Price % to the Original List Price is 95%

Fourth week of July (up to $1,000,000)

Active = 1 ($599,000)

Contingent = 1 ($725,000)  

Pending = 0

Sold = 0  

Fourth week of August (up to $1,000,000)

Active = 1 ($597,000)

Contingent = 3 ($539,000 - $849,000)

Pending = 0

Sold = 1 ($737,500)

The average Days on Market for the Sold property is 28. The average Sale Price % to the Original List Price is 105%

CONDO ACTIVITY

Fourth week of July ($1,000,000 or more)

Active = 0

Contingent = 0

Pending = 0

Sold = 0

Fourth week of August ($1,000,000 or more)

Active = 0

Contingent = 0

Pending = 0

Sold = 0

STATISTICS TAKEN FROM BARIES MLS