The usually “hot” summer has seen August numbers keeping the Corona trends in tact. Buyers are busy with closed listing up a tick, but pending listings way up at 25.2%. There is a ton of competition for most any listing and that is shown in the SP:LP ratio (the percentage of the listing price at which the average property is selling) hitting 100.1% That means that the AVERAGE home is selling for higher than list price.
The average sales price dropped a bit, but actually less than 1% from last month.
The encouraging news is that both pending listings (those under contract), and closed listings are very close to last years numbers.