The numbers remain very strong, showing no signs of weakness or slowing down, at least overall.  In many ways, this was the best August we’ve had in over 12 years. Let’s look at the details…

DEMAND: If the market is a train, it certainly doesn’t seem to be slowing down yet. Closed sales for August were the highest it’s been in more than 12 years, eclipsing even 2005 numbers. Granted, we haven’t seen the values of homes sky rocket, like we did in the mid 2000’s, we certainly have seen the activity to rival that.

SUPPLY AND INVENTORY ACCUMULATION: This number continues to be well below even last year. This means that buyers continue to have a hard time finding the right home and when they do, there are usually more than one offers on the home. Of course, this is great for those selling.

SOLD TO LIST RATIO: This number was also the highest it’s been in more than 12 years. , for August, at 96.3%. To put that into perspective, 96.4% is the most sellers have received for their homes, and that number only showed up only TWICE, and both were in the month of June, at the hight of the spring market.

CONCLUSION: Again, if the market is a train, it certainly appears to be barreling down the tracks, with little to slow it down. The truth is that real estate is, by nature, cyclical. Those cycles tend to take about 7 years and we are 10 years into a 7 year cycle. A “correction” is coming. Maybe tomorrow, maybe not. Right now though, the market is strong and is a great time for sellers.

It’s a great time for buyers too if they know what they are looking for, and have a great agent by their side.