BICENTENNIAL babies, those born in the Year of the Dragon…REPRESENT! July 2016 may not have been a record month in the history of real estate…but by-goodness, I turned 40, and I’m pumped. Here’s to another 40 years! Okay, enough about me, scroll below for your July 2016 real estate monthly snapshot…

W H A T ‘ S   H O T . . .

○ July saw no increase in sold transactions, but we did see an increase in Market Volume ( INCREASE of $1.2 million), thus an INCREASE in Average Sales Prices.

• Average Sales Price INCREASE – July’s Average Sales Price, $200,725; compared to June’s $192,600.
• 43% of July’s Sales sold for 99% OR MORE of their Listing Price.
• Hooray for the $350k – $399k price range market. They officially nudged their way out of the 3% pie slice. They represented 6% of sold properties in July.

○  Average Days on Market = 94 Days; Median Days on Market = 47 Days

• Close to 50% of the closed transactions in July were on the market for 45 DAYS OR LESS.

W H A T ‘ S   N O T . . .

○ Compared to last year: July 2015, (160 sales) had 10 more sales than July 2016, (150). You can see from the visual, that 2015 had a rocky and unpredictable spring season, with an apex in July. This year, Spring 2016 was more consistent. July 2016’s YTD sales, (847) is a negligible 7 sales away from July’s 2015’s YTD sales, (854).

○ Another item of note that may have affected our local market, was the school calendar switch-a-roo. All of the schools ’round here began the first week of August. Yes, that makes for busy-busy summer vacation & obligation cramming within the shortened break. It also means school supply shopping in July…it’s not right, ya’ll!

*This report was prepared by and for the use of Westhills Ltd. REALTORS. It is not to be copied in whole or in part without explicit permission of Katherine McNicholas.

**All data based on information from the Greater Augusta Association of REALTORS®, Inc. or Multiple Listing Service for the period 7.1.16 through 7.31.16. All information is believed to be accurate, but cannot be guaranteed.