While sold prices for both single-family homes and condo/townhomes rose slightly in August, they are both still down year-on-year. Single-family home sales prices are down 5.2% year-over-year, while condo/townhomes prices are down 11.1%.

Demand is lower and fewer properties are selling. Single-family home sales are down 6.0% and condo/townhomes are down 9.3%.

However, inventory in the under-$2,000,000 market remains exceptionally low at just 1.4 months, so even though there are fewer buyers, those in the market are competing for very few properties. Therefore, in this entry-level market, a well-priced property is likely to receive multiple offers.

Inventory above $2,000,000 is substantially higher – 4.9 months, up slightly from July. In this market segment, sellers should expect fewer offers and lower offer prices.

Summary of the Numbers – September 2019*	Single Family Residences (SFR)	% Change         Year-over-Year	Condo/ Townhomes	% Change         Year-over-Year
Median Sales Price	$1,406,000	-5.2%	$687,333	-11.1%
Average Days on Market	44	8.2%	50	4.2%
Months of Inventory	2.2	39.6%	2.1	40.9%
% of List Price Received	97%	-0.7%	98%	-1.3%
New Listings (#)	105	-11.2%	34	-5.1%
Homes Sold (#)	129	-6.0%	31	-9.3%

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