As we discussed in last month’s newsletter, sales in June were considerably up in order to avoid the increased State Conveyance Tax imposed on sellers which went into effect on July 1. As expected, July sales were down over the previous two years with 44 single family homes sold in 2011 compared to 51 in July of 2009 and 55 in July of 2010.
So while there are a lot of cautious people out there right now, June and July saw buyers making the decision to buy instead of staying firmly planted on the real estate fence.
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The sweet spot in July home sales was $1,000,000 to...