- Closed sales during the 12 months ending July 31, 2015 appear to have stabilized, increasing less than 3% over the 12 months ending July 31, 2014. The number of closed sales is impacted by availability of product as well as pricing.
- Year-to-date closed sales are maintaining a steady pace, up 3% over the prior year.
- Closed sales priced above $2 million remained strong through the first seven months, up 11.5% over the same period in 2014. During the past 12 months, the number of sales in this category is up 13% (475 versus 419).
- Available inventory on August 1, 2015 consisted of 4,286 units, down 5.8% from the prior year.
- The number of new listings placed in inventory is consistent with the prior year, however, due to the rapid absorption of product, many areas remain under supplied.
- The average list price over the past 12 months is $564,256, up slightly from the average of $550,380 a year ago. Median list price increased 11.8% over the same period.
Average and Median Sales Price
- Average price of sales closed during the month of July increased 26.8% over July 2014, while median closed price for the month is up 19.6%.
- Average price of sales above $2 million increased 13.3% over the past 12 months, from $3,519,987 to $3,988,761.