August Property sales were 119, up 19% from 100 in August of 2010 and 2.6% higher than the 116 sales last month. August 2011 sales were at their highest level compared to August of 2010 and 2009. August YTD sales of 786 are running 5.1% ahead of last year's year-to-date sales of 748.
The Median Sales Price in August was $727,000, down 6.6% from $778,500 in August of 2010 and down 8.6% from $795,000 last month. The Average Sales Price in August was $1,090,524, down 5.2% from $1,149,937 in August of 2010 and down 2.9% from $1,122,988 last month. August 2011 ASP was at the lowest level compared to August of 2010 and 2009.
The Total Inventory of Properties available for sale as of August was 784, down 6.9% from 842 last month and down 21.9% from 1,004 in August of last year. August 2011 Inventory was at its lowest level compared with August of 2010 and 2009.
A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The August 2011 MSI of 6.6 months was at its lowest level compared with August of 2010 and 2009.
The average Days On Market (DOM) shows how many days the average Property is on the market before it sells. An upward trend in DOM tends to indicate a move towards more of a Buyer's market, a downward trend a move towards more of a Seller's market. The DOM for August was 94, up 9.3% from 86 days last month and up 9.3% from 86 days in August of last year. The August 2011 DOM was at a mid level compared with August of 2010 and 2009.
The Selling Price vs Original Listing Price reveals the average amount that Sellers are agreeing to come down from their original list price. The lower the ratio is below 100% the more of a Buyer's market exists, a ratio at or above 100% indicates more of a Seller's market. The August 2011 Selling Price vs Original List Price of 94.8% was down from 94.9% last month and down from 95.4% in August of last year.
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