The number of residential homes kept on track with that of last month with a total of 317 sold. That's looking like an increase of sales from last year of 63%, despite having a few hundred less houses on the market this year. The median price of a home has stayed about the same as last month coming in at $724,000, a 13% increase from August of last year.
What does this mean for you?
If your wanting to sell your home, it's not too late! Now is still a great time to list. Demand is high, Inventory is lower than last year and prices are solid. If you're hesitating on your decision, don't wait any longer. It is a sellers market!
If your wanting to buy a home, competition is serious. Multiple offers are currently quite common. If you're going to make an offer on the house of your dreams, it needs to be a serious offer. Make it competitive.
If you're waiting for the prices to cool off before you commit to purchasing, don't. Historically, prices have increases each year, and demand is not going anywhere. It's never too late to get in the game of homeownership. With a savvy realtor, deals can be found.