“This was a busy summer,” said Mike Hughes, Vice President of Downing-Frye Realty, Inc. “In June, July and August 2020, we had 31 percent more pending sales than last summer, and 74 percent more in sales volume. Our average closed sales price is now $576,830, with sales spanning all price ranges. Last August we had 960 properties available for sale, and this August we have 972. We’re listing properties quickly to keep up with buyer demand. Now that more people are able to work from home, they’re choosing to leave the cities and head south. There is high demand especially for single family homes. Fortunately, we have a great array of all types of homes. With virtual showings and tours, sales are expected to continue at the current intensity.”
Naples: There were 15,634 showings during July, less than half the number of showings during June (36,912), yet pending sales increased which indicates that properties are being purchased virtually, sight unseen.
USA: Existing-home sales continued on a strong, upward trajectory in July, marking two consecutive months of significant sales gains. Total existing-home sales jumped 24.7 percent from June to a seasonally-adjusted annual rate of 5.86 million in July. “The housing market is well past the recovery phase and is now booming with higher home sales compared to the pre-pandemic days,” said Lawrence Yun, NAR’s chief economist.