Residential sales in July were down 8% from June and 36.04% higher than July 2010!

The Average and Median Residential Prices have risen.

The Average and Median Price of Condo/Apt have decreased.

The Good News is the gap between 2010 sales and 2011 sales is getting narrower. The year to date sales are now only down by 9.18%.

SALES

Sales in July were down from the June; they decreased from 369 to 341

The ratio of sales to listings is now 7.40%.

INVENTORY

Inventory is up from the previous month; it increased from 5,308 to 5338.

Total increase:  30

HOUSE PRICES

Average Price     June                       July                    Change

Residential          $456,580           $490,364           +$33,784

Apartment          $289,912           $229,469            ($60,443) 

Townhouse         $348,305           $366,403           +$18,098

Median Price

Residential          $422,500           $434,000            +$11,500

Apartment          $284,000           $216,950             ($67,050)

Townhouse         $340,750           $336,750             ($ 4,000)

Sales in July were down from June which is to be expected, as Buyers and Sellers will be completing existing sales in order to be in their residences by September and start of school.

Unfortunately, the Average and Median Prices for Condo/Apt have decreased substantially. Some “high end” condo sales must have skewed last month’s statistics in order for these statistics to change so radically.

All in all the market seems to be stabilizing which is good news.