We need more listings! This is the quote of the Spring and continues into the Fall market.
In August of 2012 we listed 227 new residential listings, but only were able to get 211 homeowners to list their home this past month. This decrease in new listings, along with the low inventory we have been facing all summer, really makes it hard to find the buyers their dream home. But, it does help with pricing. Homes sold in August were only 3.9% less than the price the home was originally listed for when the seller put it on the market. Several homes had multiple offers and were sold at above the asking price.
The average days a home is on the market is also staying low. For the homes sold in August, the average days they were on the market was only 74 days compared to 85 days in 2012.
The number of homes sold is down compared to last year, but the volume is up. So, that means that the prices of the homes sold are up which is good for our local economy.
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