August sales totalled 1,300 units, which is 31% higher than levels recorded last year and well above long-term averages. The months of supply remained just above two months. Following several months of strong price gains, August prices remained relatively stable compared with July figures but were more than 10% higher than levels recorded last year.
The year-over-year sales are more than 70% higher than last year. The months of supply rose above three months in August for the first time since October of last year. As of August, the semi-detached benchmark price was $430,000, nearly 10% higher than last month.
The row sales have been strong enough to push the year-to-date number to a new record high. The months of supply fell just below three months in August. The row benchmark price in August pushed above $300,000, 8% higher than last year.
Sales activity in August was higher than anything recorded over the past six years, but thanks to continued gains in new listings, inventory levels remain elevated. The months of supply remained above five months in August. The benchmark price was just over 2% higher than last year, but it remains nearly 16% lower than previous highs.