Real estate sales reported through the MLS® system of the Georgian Triangle Real Estate Board reflected unit sales gains of 30% over August 2008. Sales revenue was also up by 30% with total sales for the month of $53.7 million compared to $41.2 million in 2008. (click on graph to enlarge)
This marks the 3rd straight month wherein sales have registered double digit increases over the same months (June, July & August) of last year. At the end of the first quarter of this year sales were off 40%. By the end of June the shortfall had been reduced by more than half to -19% now just two months later, year-to-date sales total 1,205 properties, just 6% behind the 1,287 properties sold in the first eight months of 2008.
Pricing for the most part has remained stable with the 12-month average residential price to the end of August virtually unchanged from last August, $278,115 for 2009 as compared to $278.888 at the end of August last year. In my next post I will provide some sales results for the various municipalities throughout the area.