Days on Market (DOM), or the number of days it took the average home to sell, was 52 compared to 49 a year ago. Inventory expanded to a 4.2-months supply. That is up from 4.0 months year-over-year and is just under the 2019 peak of 4.3 months reached in June and July. It matches the national inventory of 4.2 months reported by NAR.
Broken out by housing segment, August sales performed as follows:
$1 - $99,999: decreased 18.8 percent
$100,000 - $149,999: decreased 16.7 percent
$150,000 - $249,999: increased 0.9 percent
$250,000 - $499,999: increased 14.7 percent
$500,000 - $749,999: increased 7.0 percent
$750,000 and above: decreased 3.0 percent
HAR also breaks out sales activity for just existing single-family homes. Existing home sales totaled 7,251 in August, up 3.9 percent versus the same month last year. The average sales price rose 4.0 percent to $301,695 while the median sales price increased 4.7 percent to $235,500