Thursday, July 2, 2009

The Selling Frenzy Continues

June was a terrific month albeit sales waned over the last week as buyers hunker down to enjoy the summer. The average sales price was up 15% to $509,402 year over year. June '08's average was $443,421. Sales volumes mirrored this trend with 17% more sales with 400 this June compared to 342 in June '08.

Financing has bumped up but still remains historically attractive with variable and one year money available at 2.75% and 5 year money at 4.35%.

21 homes sold over a million with 139 sales between $500,000 and $1,000,000.

In addition there were 74 homes and condo's rented during the month.

We would expect the selling activity to soften considerably during July & August, picking up again in September.