The summer season is coming to a close, and this August has been the second best month for home sales since 2008. This August home sales were up 5 percent compared to last year and the median sales price was 7.5 percent compared to last year at $215,000. The inventory of homes for sale continues to drop and is sitting at 4.1 months of supply making August a “sellers” month. The Average Days on Market was 55 for the month of August, just two days more than July.
“As the summer home selling season comes to a close, we’re very pleased with the growth we’ve seen in 2015. Sales were significantly stronger than last year and price increases are providing better equity for existing homeowner, which results in an improved inventory. Consumers, and especially first-time buyers, are feeling much more confident about this market.”
Dave Liniger, RE/MAX CEO, Chairman of the Board and Co-Founder
