Our real estate market has changed a lot over the last year. Today we’re taking a look at the numbers that just came in for August 2019 versus where they were in 2018.
The big change comes with home sales. In August 2018, we had 1,922 home sales. This August, that number dropped to 751.
At the same time, the average sale price is up from $219,000 to $236,000 while the average days on market has remained flat at 49.
“Rates have dropped from 4.5% to 3.8%.”
The absorption rate is up slightly, from 2.85 months last year to 2.9 months this year. The number of active listings remained relatively flat as well.
Interest rates were a big surprise too. Last year at this time, they were around 4.5%, but have since dropped to 3.8%.
The quote of the month for this month is: “Humility is not thinking less of yourself, but rather thinking of yourself less.” This one stood out to me and comes from Father Tony over at Epiphany Church.
If you have any questions for me about the market or about real estate in general, don’t hesitate to give me a call or send me an email. I look forward to hearing from you soon.
