The following Real Estate statistics were collected by MLSOK, Inc., for the time frame August 1 through August 31, 2020.
The housing and stock markets continue to be the leaders in the economy. In August, showings and pending sales remained at strong levels while housing inventory remained limited, continuing the competitive bidding market we have seen in recent months. With the stock indexes at or near record highs as mortgage rates remain near record lows, signs point to a busy fall housing market.
New Listings increased 7.3 percent for Single Family homes but decreased 6.3 for Townhouse-Condo homes.
Pending Sales increased 36.2 percent for Single Family homes and 26.9 percent for Townhouse-Condo homes. Inventory decreased 17.7 percent for Single Family homes but increased 20.3 percent for Townhouse-Condo Homes.
Month’s Supply of Inventory decreased 23.1 percent for Single Family homes and 17.9 percent for Townhouse-Condo homes.
Median Sales Price increased 13.6 percent to $210,000 for Single Family homes and 28.7 percent to $140,250 for Townhouse-Condo homes.
Days on Market decreased 9.8 percent for Single Family homes and 49.1 percent for Townhouse-Condo homes.
As we look towards the fall, we normally see housing activity begin to slow a bit as the back-to-school season begins, but this year is far from normal. While uncertainty remains on what effects the upcoming election and any seasonal resurgence of COVID-19 may have on the financial and housing markets, the healthy housing demand we see today will create significant tail winds in the near term.
If you are wondering how current national and global situations might be impacting your property’s value, your neighborhood, or the Real Estate market in general, we are happy to provide more specific information.
If there is a home that you would like more information about, if you are considering selling a property, or if you have questions about the housing market in your neighborhood, please reach out. We’re here to help.
