Today we issued our August 2011 housing numbers and for the 2nd straight month both single-family and condo sales were up over the same time last year. Single-family median prices were down from 2010, but were the same as July. Condominium median prices were down from last year, but up from July. Sales for both single-family homes and condos were up from July. This is the first time that both year-over-year and month-to-month sales have increased for single-family homes and condos since December 2010 and June 2010 respectively (see graphs below).
One more issue REALTORS(R) are concerned with is the impact that copper pipe theft from vacant and foreclosed homes is having on neighborhood home values. As a way of combating this disturbing trend, the Association supports the passage of An Act Regulating Secondary Metals Dealing (State Senate Bill S.145). This bill would create a second-hand metal dealer registry and an abandoned property registry to give tools to law enforcement to fight scrap metal theft. It would also require personal information from sellers of scrap metal, including a signed statement, photocopy of their ID, and photo and record of the weight of the metal item received if it’s valued over $250.
Click the link to see the August 2011 Housing Release and listen to the monthly podcast with MAR President Laurie Cadigan.
Highlights from the release:
- Single-family home sales were up 17.59% compared to last year
- Single-family median prices were down 4.0 %
- Condo sales were up 11.64% compared to the same time last year
- The median price for a condo was down 4.0% compared to last year
(Click on graphs to enlarge)