Home sales drop, prices up
Posted: September 14, 2012 at 10:34 a.m.
Agents sold slightly fewer homes in August, but those that sold were at a higher price.
MountData, a real estate marketing firm, reports 572 home sales last month, down from 601 in August 2011. Median sales price jumped almost 19 percent year-over-year, growing from $122,000 to $150,375.
The number of homes for sale shrunk considerably between July and August, going from 4,670 to 3,665. Paul Bynum, MountData owner and principal broker, said the number of existing homes on the market is dropping and new construction is increasing.
Home buyers grabbed 3,512 properties in the first eight months of 2012, with seven of those homes ringing in at more than $1 million.
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