Market Summary | August 2007

After a slight dip in July, the median home price inched back above the $1MM mark to $1,025,000 last month. This marks a 5.5% increase from August 2006. Despite the improved median price, sales volume was way off last year’s 244 closings. Not much of a surprise given what's going on in the mortgage industry right now.

Here's a quick snapshot from the MDH Newsletter with a summary of the market trends for August...