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It sounds incredible – even though average pricing is 20% HIGHER now than this time a year ago, there were 4% MORE sales between June 1 and July 22 (mortgage rates were about the same in both periods):

NSDCC Detached Sales, June 1 – July 22

Year
# of Sales
Avg. $/sf
DOM
2009
344
$386/sf
73
2010
400
$380/sf
67
2011
419
$375/sf
77
2012
514
$368/sf
73
2013
534
$441/sf
41

These buyers probably had their interest rate locked before rates popped over 4% at the end of June – we’ll see how it goes from here!

Compared to 2009 (when rates were in the 5%s), there were 55% MORE sales this year, even though average pricing is 14% HIGHER.

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