Here are the numbers for the residential market (only condos and single family homes) from January 1 to June 30, 2016.
As I mentioned in my introduction, the market has started to recover, especially the single family homes.
The total numbers of sales for all residential properties in all price ranges are still down by a 2% to 187 transactions.
The total sales volume is up by a 45% to $111,779,000 US Dollars.
Total numbers under contract are up by 12% to 237 contracts. The average sales price is up a 48% to $598,000 US Dollars. The medium sales price is down an 8%
Now let's see how the numbers look like for the condo and single family home market:
For the first six months of 2016 the total number of closed transactions for condos is up by a 4% to 96 units. The total sales volume is up by 10% to $35,264,000 US Dollars. The average sales price is up a 5% to $367,000 US Dollars. The list to sales ratio is a 90%.
Closed transactions for single family homes are down by an 8% to 91 units. The total sales volume is up by 70% to $76,515,000 US Dollars. The average sales price is also by a staggering 85% to $841,000 US Dollars. The list of sale ratio is up three points to 88%.
These numbers reflect a steep increase. Total numbers of closed sales for properties above $1,000,000 US Dollars is up a 73% to 26 closed escrows. The total sales volume is up by 196% to $60,881,000 US Dollars. The average sales price is up by 71% to $2,342,000 US Dollars.
The market for properties below one Million US Dollars looks quite different. The total numbers under contract went up by 4% to 196 accepted offers. Total units sold is down a 9% to 161 units and the total sales volume is down by 10% to $50,898,000 US Dollars.