July 2020 Market

From our Local Board Market Watch

We are now into the second half of 2020 and the real estate numbers reflect the ups and downs of a difficult year. The month of July showed significant increases for both Residential and All Property Type sales compared to last year and the Year to Date sales figures also show a modest increase.

• The Total Active Listings continues to be a challenge, with the listings down 26.3% compared to last year, however the new Listings for the month of July increased by 7.5% over 2019.

• As everyone becomes more comfortable with the healthrelated safeguards, such as wearing a mask, listings are expected to increase. The new, more virtual world is manageable within real estate and a local Professional Realtor® is always available to assist with all your real estate needs.

• The July 2020 monthly Dollar Sales for All Property Types was $244,985,650 reflecting a substantial increase of 86.2% above July 2019, which was $131,594,845.

• The July monthly Dollar Sales for Residential Listings resulted in a similar increase of 83.2% with $230,733,295 for 2020 compared to $125,972,445 for 2019.

• The Residential Average Sale Price for July showed an increase over 2019, with the July 2020 price of $450,651 resulting in a 22.7% increase over the July 2019 amount of $367,267.

• Residential Unit Sales for July 2020 showed 512 sales, up significantly from 343 sales for 2019, for an increase of 49.3%.