August continued the pattern of this year’s real estate market in Wilton. Sales were up — this month a more modest 8% — to 26 compared to last year’s 24. Encouragingly, you had to go back several years, in this case 2007, to find an equivalent performance. The median sale dipped to $735,000, 17% below last August. While the average sale in August 2011 was boosted by the $4,000,000 sale on Keeler’s Ridge, the 34.6% drop in average sale in 2012 is substantially greater than expected. Inventory continued downward from the previous month, but the average price is now approximately $100,000 higher than Sept. 1, 2011. This is due to an increase in higher-priced homes being actively on the market.
Year-to-date closings are up from 2011 by 31, close to 25%. At the same time, the median sale is now 11% lower than this time last year. Average sales are 17% below last year. Overall revenue is ahead 3%, but that represents slightly over $4,000,000 on 31 additional sales. Like the monthly figures, the year-to-date closings continue to gain (now over 28% ahead of 2011). With the growth in sales, the total revenue is now up 13%. However, median sales, now down 6%, and average sales, down 12%, continue their downward slide from last year’s level.