Prices continue to be fairly stable despite the fact that it doesn’t appear that we will see a recovery in our awful economy any time soon. After oil prices hit around $50 a barrel a while back, there was some reason to be optimistic, but now prices have receded back to the $40 range and it seems like we will have to hang in there a while longer.
In the Single family house market we had 2.719 active listings and 1,111 sales at an average price of $541,900. This is a 2.9% drop from June but a slight increase of .04% compared to last July. Sales were down by 8.9% and it took 43 days on average to sell a house in July.
On the condo front, it took an average of 56 days to sell, and sales are down by 21.3% compared to July of 2015. The average price was $351,545 which is 13.2% higher than June and 12.8% higher than last July. That sounds impressive but the average numbers may be influenced by the sale of some higher priced luxury condos since the median price was only $269,900. There were 1,555 active listings and only 255 sales.
For details have a look at the infographic below:
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