How did things fair way back in August? End of the summer, families out on vacation, getting ready for school….
(Yes – I know…it’s after Halloween and that was a LONG time ago, but data is forever on this here internet!)
In August we saw an interesting mix of numbers and stats.
Across the board, there were fewer active listings than this time last year. The number single family homes were down 7.3%, and new construction was down a whopping 24%.
But to contrast that, the number of solds (in the single family division) was UP 8%…with days on market (how long it took from list date to sale date) only up 86 days compared to 74 on average last year.
New construction is still balancing out. Along with the number of new homes available (I read that as builders being unable to get loans to build spec homes…more and more are waiting for a contract to be in place before they will start the process) – the number homes sold is down 19%. The continual changing of the economic and lending landscape probably plays a role in this as well. People are remodeling what they have instead of moving up to that brand new home. Average sale price falls in line with what you may expect – down 3% from this time last year.
To end on a better note, single family homes average sale price hung in there – with a minor decrease of .2%.
Here are the graphs:
