Fast Facts – August 2018 Real Estate Sales

Residential Sales August 2018

• Number of sales is down 12.6% vs August 2017
• Dollar volume for sales is up 7.8% vs August 2017
• Average sale price is up 23.3% vs August 2017
• August 2018 average sale price was $862,340
• There were 37.5% more sales over $1,000,000 in August 2018 vs August 2017
• 55 sales, or 27.4%, were for $1,000,000 or more
• 11 sales, or 5.5%, were for $2,000,000 or more
• 78.6% of sales sold in the first 60 days
• 77.4% of sales sold in the first 60 days in August 2017
• 35% of sales were cash
• 4.5% of sales were 1031 Exchanges

 

Land Sales August 2018

• Number of sales down 10% vs August 2017
• Dollar volume for sales is up 62% vs August 2017
• Average sale price is up 80% vs August 2017
• August 2018 average sale price was $424,458
• There were no sales over $900,000 or below $150,000
• There were no sales over $600,000 and seven sales below $150,000 in August 2017
• 44.4% of sales sold in 60 days or less
• 20% of sales sold in 60 days or less in August 2017
• 83.3% of sales were cash

So far in 2018 sales are pretty flat when compared to 2017.  More higher priced properties are selling which is pushing the average sales price higher.  A 23.3% increase in average sales price doesn’t mean homes have appreciated 23.3% in the last year.  While prices are up, every neighborhood is different.  If you’re wondering about the price of your home in today’s market, contact us for a free home valuation.