Market Action for August 2008
Tuesday, September 16, 2008
Traditionally August is one of the most active of our year in sales. Take a look at the market action from multiple listing for the month of August. The board of directors of the Multiple Listing Service have changed the calculation of the aveage days on market to the total market time which is now cummulative.Some agents would wait for a listing to expire or withdraw and relist as a new listing giving an unrealistic view of marketing time. This decision by the board will make more realistic figures for sellers and buyers to understand the market.
Sales for August were down 47% from the year before. Days on market will be showing up as longer due to the new cummulative amounts. August saw a total of 12 sales.