July Real Estate Numbers Down
Following record setting numbers July 2015, real estate sales were back to normal for the month this year.
176 properties sold, with the dollar volume dropping to $39-million, down from $52-million.
Real Estate Board President Jane Baker says last year was an exception, and this year’s numbers are on par with what they usually expect this time of year.
“You can’t keep record highs for that long without expecting to see one month at least go down a little bit. Its been a beautiful month, people are on vacation,” says Baker. “Typically this is the time of year we see a little dip anyways, just this year was a bit more significant than others.”
Baker says lack of active listings hindered numbers last month, with just 585 currently in the MLS system, 293 of which are single family homes.
She says the July numbers aren’t indicative of the overall market, and expects numbers to come back up in August.
“Its not an indication that the market has gone down by any means, its literally just this month,” says Baker. “If we get some more listings on the market you’ll see that change quickly.”
The highest number of residential home sales, at 51, was in the $100,000 to $150,000 range.
The average sale to date is just over $230,000, compared to about $217,000.