Residential sales July surpassed 2008 levels by a substantial margin while shattering records in many key measurement categories.
There were 374 residential properties sold inside the city, up 78% from 2008.
For the year-to-date 1,982 homes have sold in the city, up 8% from 1,836 sales recorded in 2008.
The average price of residential properties sold inside the city was $246,787. The year to date average is $246,563, a new high for the period and up 3% over 2008’s $239,288.
Homes which sold in the city during July were on the market for an average of 40 days before selling, down slightly from 41 days in June. Homes sold at an average of 96.5% of asking price.
Inside the city there were 981 active residential listings at the end of the month. This marks the first time since December 2008 that active listings have fallen below the 1,000 levels.
July certainly was an exceptional month by setting the high for sales for the year so far. Typically this would occur in the late spring months. It’s an indication of the continuing solid level of demand for housing in this area and that our market has been buffered from national and global economic downturns by the strength of the local economy.
