Sales in August were off by 5% compared to last August. More troubling however was the 20% drop in pending sales. Pending sales are forward looking so we can anticipate the September sales number will be negative. The average sales price increase 2% while the median sales price fell 3%. The number of new listings was flat. Active listings rose 17% and the months of inventory now stands at 5.9 months. This is very close to the 6 months that is considered a balanced market.
Average Sales Price: $1,192,739
Median Sales Price $ 847,500
Pending Sales: 51
New Listings: 83
Active Listings: 233
Months of Inventory: 5.9
Information provided by The Real Estate Center