August was certainly a slower month for sales compared to last year. There were 94 sales in August this year, where as last year there were 163 sales. With product at a high and sales at a low, our market still remains a buyers market.
The most active price range in August was between the $250,000 price range and the $300,000 price range with a total of 27 sales. The $300,000-$350,000 price range is still proving to be busy with 17 sales.
What does this mean for sellers? If you have a home within the starter home price range, now is a good time to sell. If you are just over the $350,000 price range, you may need to reduce your listing price to get your home below $350,000, this will put you in a very active price range. There have been a total of 204 sales between $300,000-$350,000 this year, the $350,000-$400,000 range has had less than half the sales to date with a total of 100 sales.
Our average sale price this month is $316,845.00 This is higher than last year. The reason for the increase in average sale price is the increase in sales in our $600,000 plus price ranges compared to last year.
Century 21 Advantage Realty