Welcome to August's Market Update. Let's take a look at residential real-estate activity in your area during the month of August. The number of active listings was down 18% from one year earlier and down 12% from the previous month This smaller inventory means that buyers who waited to buy may have had a smaller selection to choose from. As you can see, the median listing price for the month... was just under 520-thousand dollars. Compared to last year, the average number of days units spent on the market before being sold was down 30% This lower number of days may signal a positive trend in the local inventory-turnover rate. The median sale price was 400-thousand dollars. The number of units sold Increased more than 100% year-over-year and Increased 19% month-over-month These figures may indicate that buyers have been taking advantage of competitive pricing and interest-rates. Thanks for watching. We hope you've found this video helpful as you gather more information to make smart, informed real estate decisions! If you'd like more information or assistance...please contact your agent.