The stats for August are in and as is typical for this time of year, sales were down a bit.  I contribute much of the slowoff to end of summer vacations and school getting back in session.  Business has definitely picked up since Labor Day.

Sales in August decreased by 14%, which is the first month we have had a decrease since January 2009. Interest rates spiked in June and have since regained the lost ground and are currently hovering near 5.125%.  First time homebuyers have about 2.5 months to take advantage of the $8,000 tax credit.

We saw a small increase in listing inventory with 5,436 homes on the market which gives is a 14.3 month supply.  The list to sold ratio is 94.5%.  The average list price in August was $401,661 and the average sold price of $234,988 is up 7.5% from last month.  The average days on the market for sold properties was 139 for August.

I hope you find these statistics helpful.  I offer them to keep you, the consumer informed as to how are market is moving.  If you have any questions or comments, please give me a call or email.  I can be reached at 910-233-2840 or melaniecameron@seacoastrealty.com