According to the recent report from the FVREB, the local market experienced the strongest August since 2011.
More than 1,300 sales were processed in August, a 3% increase over the same month last year.
According to Ray Werger, president of the Board, “As usual, we saw a typical summer slowdown in August compared to July, however like every month so far in 2014, August sales were higher than last year. It’s the continuation of the story we’ve seen all year; a return to a normal, balanced market.”
Here are a few of the report highlights:
- Single family homes continue to outpace sales of townhouses and condos
- Many first time home buyers are skipping condos as a first- time home purchase and proceeding directly to townhomes and other larger properties
- The benchmark price for detached homes in August was $569,800; for townhouses it was $298,200
To view the full report, click here.
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