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# of listings currently on the market

June 2013  1,739
June 2014   1,711

# of listings Sold 

June:                        Year-to-date:

2013:  366                         1713

2014:  437                        2594

 

Average Days on Market (DOM)

2013:  99

2014:  86

last month avg DOM:  92

Median Sales Price

(single family homes and condos)

Yr.          2012                 2013                2014

Jan   $103,200        $126,000          $84,750

Feb    $121,000        $119,000         $109,000

Mar   $114,900        $96,000          $91,000

Apr   $110,500         $98,500          $99,900

May   $114,000       $115,000          $104,900

June  $132,000      $124,500          $136,250

July   $116,750        $135,900         $124,950

Aug   $121,000       $110,500          $131,000

Sept   $113,500      $114,150           $130,000

Oct    $100,000      $105,000        $121,750

Nov   $110,000       $102,750

Dec   $112,500        $105,000

“After a slow start early in the year home sale prices have begun to demonstrate strong price gains in recent months with the August median sale price of $130,000 reflecting the second highest overall median price on record,” said REALTOR® Steve Myers, president of the Capital Area Association of REALTORS®.

“Much of the price increase can be explained by a reduction in inventory, especially in the $100,00 – $120,000 range.  Because there were fewer home sales and fewer homes available for sale in this price range coupled with an increase in sales in the $200,000 – 300,000 range the effect was an upward push in median prices,” said Myers.

The 24 foreclosure sales in August of 2014 reflected 6.6 percent of all sales as compared to 48 foreclosure sales during the prior August.  “We are pleased to see this decreasing trend in foreclosure sales with this being the seventh consecutive month in which foreclosure sales, as a portion of overall activity, have declined,” said Myers.

The average cumulative days on market for all home sales of 86 in August 2014, down markedly from 98 days in August of 2013.  Cumulative days on market for year-to-date through August 2014 was 104, up considerably from 87 during the same time in 2013.

There were 398 sale pendings in August 2014, down 30.9 percent from the 521 sale pendings during the same time last year.

The Federal Home Loan Mortgage Corp. reported that the national average commitment rate for 30-year, conventional, fixed-rate mortgages was 4.12 percent in August 2014, down from the 4.46 average rate during August of 2013.