August 2025 was a Seller's market! The number of for sale listings was up 50% from one year earlier and the same as the previous month. The number of sold listings was the same year over year and decreased 53.8% month over month. The number of under contract listings was up 100% compared to previous month and the same compared to previous year. The Months of Inventory based on Closed Sales was 1, up 45% from the previous year.

The Average Sold Price per Square Footage was down 5.6% compared to previous month and down 8.2% compared to last year. The Median Sold Price increased by 0.6% from last month. The Average Sold Price also decreased by 8.2% from last month. Based on the 6 month trend, the Average Sold Price trend was "Depreciating" and the Median Sold Price trend was "Neutral".

The Average Days on Market showed a neutral trend, an increase of 50% compared to previous year. The ratio of Sold Price vs. Original List Price was 103%, a decrease of 2.8% compared to previous year.

It was a Seller's Market

Property Sales (Sold)
August property sales were 6, the same as in August of 2024 and 53.8% lower than the 13 sales last month.

Current Inventory (For Sale)
Versus last year, the total number of properties available this month was higher by 2 units of 50%. This year's bigger inventory means that buyers who waited to buy may have bigger selection to choose from. The number of current inventory was the same as the previous month.

Property Under Contract (Pended)
There was an increase of 100% in the pended properties in August, with 6 properties versus 3 last month. This month's pended property sales were the same as at this time last year.

The Average Sold Price per Square Footage was Depreciating*

The Average Sold Price per Square Footage is a great indicator for the direction of property values. Since Median Sold Price and Average Sold Price can be impacted by the 'mix' of high or low end properties in the market, the Average Sold Price per Square Footage is a more normalized indicator on the direction of property values. The August 2025 Average Sold Price per Square Footage of $671 was down 5.6% from $711 last month and down 8.2% from $731 in August of last year.

* Based on 6 month trend – Appreciating/Depreciating/Neutral 

The Days on Market Showed Neutral Trend*
The average Days on Market (DOM) shows how many days the average property is on the market before it sells. An upward trend in DOM trends to indicate a move towards more of a Buyer’s market, a downward trend indicates a move towards more of a Seller’s market. The DOM for August 2025 was 12, the same as last month and up 50% from 8 days in August of last year.

The Sold/Original List Price Ratio Remains Steady**
The Sold Price vs. Original List Price reveals the average amount that sellers are agreeing to come down from their original list price. The lower the ratio is below 100% the more of a Buyer’s market exists, a ratio at or above 100% indicates more of a Seller’s market. This month Sold Price vs. Original List Price of 103% was up 4% from last month and down from 2.8% in August of last year.

* Based on 6 month trend Upward/Downward/Neutral
** Based on 6 month trend – Rising/Falling/Remains Steady

The Average For Sale Price was Neutral*
The Average For Sale Price in August was $2,445,000, down 4% from $2,548,000 in August of 2024 and up 3.5% from $2,362,000 last month.

The Average Sold Price was Depreciating*
The Average Sold Price in August was $1,896,000, down 12.8% from $2,175,000 in August of 2024 and down 8.2% from $2,066,000 last month.

The Median Sold Price was Neutral*
The Median Sold Price in August was $1,992,000, down 5.3% from $2,103,000 in August of 2024 and up 0.6% from $1,980,000 last month.

* Based on 6 month trend – Appreciating/Depreciating/Neutral