Since summertime is typically a time of increased real estate activity, I thought I would compare this summer against the last few summers for context. I am defining summer according to the AISD calendar, and pulling MLS data for the summer dates for 2013 – 2016 (2016 data is incomplete because this article was due on August 15th, and the AISD summer break does not end until August 22nd).
A few takeaways:
• The summer 2016 numbers are fairly consistent with summer 2015, and I expect that the number of transactions will ultimately be revised for this summer up to very close to or slightly above 2015. That shouldn’t impact median numbers, though, so the table nearby offers a good overview of how summer 2016 compares to the last few summers.
• Looking at median values, sold prices are down slightly from summer 2015 (-3.7%), and median sold $ / sq ft basically flat with 2015 (-0.5%) and up 6% vs. 2014 and more than 18% vs. 2013.
• The number of transactions during the summer season was low at 28, but if some of the pending transactions close prior to the end of the 2016 summer, we are likely to be roughly flat with the summer of 2015.
• Median Days on Market indicate a still very brisk market at 22 days, which is consistent with last summer and only 2013 had a lower median days on market for the summer season (16).
• Home sizes were only slightly smaller than the previous two summers, with a median size of 2674. For the last three summers now there has been little variation in home sizes.
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