Total sales: 764
New Listings: 1094
Total Active Listings: 3509
Sales to new listings ratio: 70%
Sales to active listings ratio: 22%
MOM volume change: -19%
YOY SFH price change: +8%
Highlights from the spin cycle, er presser:
- it is usual for sales to slow in August
- the average price was affected by 17 sales of over $1 million... included two sales of over $4 million
- The median price increased $20,000 to $540,000
- Sales so far this year are running over six per cent higher than in the first eight months of last year
Expect in about 3 hours time, the TC will run a headline like: Prices, Volumes Jump in August: Buy now or be priced out forever.
But they should be running a headline like: Despite record low interest rates, buyers still not buying like they did in 2005, 2006 and 2007.
And sales are falling at a faster rate in August 2009 than in the previous 4 years.
Thanks Roger for great graphs again.