The monthly number are here. Average sales price dropped slightly (about 4%) from last month but still remain over half a million. Activity is also down over last month with only 61 transactions recorded on the MLS in September. Average sales price was down 6% over last September yet average price per square foot was up 3% and median price per square foot was up 8% over last year.
Look at the average and median prices for 3 bedroom properties. Yet, my buyers still call seeing a 3 bedroom in the 600k range. That’s a tough order to fill.
Inventory is still extremely low. We would sell every unit on the market today in 2 and a half months at this rate of sales. Here are the monthly numbers:
Stay tuned for the 3rd quarter results which will be posted shortly.