Summer Selling Season is Now: June's real estate activity increased as the county went from being shut down in March, April, and May to opening up a little bit late May and early June. Now, in July, the activity is soaring! Typically August and September are very robust for real estate sales, and as we start August, it appears to be the same this year.
Percent of List Price to Sold Price: The percent of list price to sold price as we were in the initial stages of COVID-19 was heading lower and towards about 96%. June, and now July has turned that back around to normal levels. The percent of list price to the sold price in July is back at and close to 98%.
Number of Sales: Year to date, the count of properties that have sold is still recovering from being shut down in March and April, with total sales down about 15%. June and July are starting to correct the downward trend and, as shown in the above graph, July sales are up 22% over July 2019!
How much is that Home? Countywide prices are about the same as last year. Up just a bit. The average sold price so far in 2020 is up 2% over the same period in 2019. On average a residential property will sell for $838,000. Single Family Homes are at an average sold price of $1,328,000, and condominiums are at an average sold price of $517,000.
Inventory: It's dropping! Typically this time of year, the inventory continues to increase. The number of properties for sale started declining in June and has continued to decline in July. The inventory of available properties for sale in the first part of August is down 19% as compared to the same time in 2019.
