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July’s average sales price totaled $157,132, just edging past last year’s figure by 0.10 percent. The median price also fared well at $136,900, up 3.71 percent from last year, the board said.
The 1,457 sales for July were down 2.5 percent as inventory remains tight, the board said. Those sales produced a cumulative sales volume of over $228.9 million, a drop of 2 percent over last year.
July’s showing also continued to improve the year-to-date numbers. The January-July average sales price increased five percent to $154,853, while the median price ticked up almost five percent to $133,000. The cumulative sales price also jumped 7.7 percent to $1.4 billion.
Listings submitted in the month of July still reflected a fairly tight inventory in the housing market, with 1,934 entries, a one percent rise from July 2016’s 1,901, the board said. For the January-July period, 13,083 listings were entered, down from last year’s 13,457 listings.
The overall active MLS single-family and condominium inventory at the end of July stood at 4,800 and represented a three months’ supply of listings based on July’s resale rate.
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