July 2020 Market
Monday Aug 31st, 2020
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%.