As summer slows down, does the local real estate market do the same?
Traditionally, August leading into September is quiet when it comes to listings and sales.
However, August 2018 saw an upward trend in both categories when compared to August 2017.
Is this temporary, or will it continue through September and into the fall? Check out September’s market update to see what autumn has in store for real estate in Milton.
Sure feels like summer is coming to an end guys, hope you have had a great one!!
Usually, the world of real estate slows down for the months of July and August. This past August though, what we saw was the activity was higher compared to last year August. The number of new listings that came up on the market this year, were higher by about 14% and also the number of sales by about 12%. Now along with the slowing down in the activity, the average sale price tends to be a little bit softer for these two months, usually. However, this past August, we saw the average sale price, was higher by about 6% in comparison to last year.
If you look at the graph, what you are going to see is, the average sale price has been trending higher, for the last two to three months, not only in comparison to last year but also month over month. Going forward, what we feel is the fall market is going to be a little bit more fast paced than usual, and also the average sale price will hold or go a bit higher.
As always, if you have any questions, message us or give us a call. Thanks so much!!