The summer selling season started slowly with the rainiest June in recent history. Shortly after the July 4th weekend the activity really started to pick up, and it continues through today. Units sold are up 4% year over year, and days on the market are down to 165, a 13% decrease. Average sales price is up to $365,702 a 9% increase over last year. This is due in some part to the fact that inventory in the lower price points has been cleared out. The other factor affecting this is the increase in luxury buyers. This increase should continue for the next couple months as many higher end properties 1M+ have gone under contract in July, including the most expensive listing in the area over 7M. YTD dollar volume is $69,849,097 up 13% over 2012. We have seen many new listings at the higher end, and inventory is basically flat since last year. REO/Bank Owned properties in July were about 20% of the market in July, this is down from 30% in Jan-Mar. We have seen some price reductions in the last couple of weeks as seller’s eye the Labor Day weekend on their calendars. I hope to see you around town for Ship and Shore festival this weekend. Give me a call anytime if you would like to discuss this further.