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.
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