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Buyers reacting to the market and the ongoing concern of rising interest rates in the late spring/early summer resulted in the most closed home sales in a September since 2005. Prices continue to move up because demand for available homes to buy is outpacing supply. Interest rates are still low and buyers are qualified and waiting. The market needs homeowners to commit to selling to get us to full recovery.
• September single-family home sales – Up 17.2% over last year. Six straight months of increases.
• Most September closed sales since 2005 when there were 4,744 sales (4,289 in Sept. 2013)
• September Single-family median prices were UP 11.9% to $325,000. Twelve straight months of increases.
• September condo sales UP 19.3% and median prices UP 7.8% ($305,000)
Typical to see a August-to-September sales decrease