Sold prices for both single-family homes and condo/townhomes were down further in July across all price points. Single-family home sales prices are down 6.6% year-over-year, while condo/townhomes prices are down 7.2%.

Demand is lower and fewer properties are selling. Year-to-date, single-family home sales are down 0.36% and condo/townhomes are down 9.9%.

Inventory in the under-$2,000,000 market remains exceptionally low at just 1 month. Inventory above $2,000,000 is substantially higher – 4.8 months. Sellers should expect fewer offers, and with lower offer prices. But, at least in the entry-level market, a well-priced property should still receive multiple offers.

Summary of the Numbers – August 2019*	Single Family Residences (SFR)	% Change         Year-over-Year	Condo/ Townhomes	% Change         Year-over-Year
Median Sales Price	$1,448,333	-6.6%	$729,333	-7.2%
Average Days on Market	39	7.3%	42	17%
Months of Inventory	2.0	30%	2.0	51%
% of List Price Received	97%	-1.0%	100%	-0.3%
New Listings (#)	134	-3.2%	38	-0.5%
Homes Sold (#)	158	-2.7%	35	-11%

*Rolling 3-month average compared to the same period the prior year