While August represented the first month this year that was not equivalent to or ahead of the same period in 2012, there were plenty of other positive indicators. The 12% drop in sales volume is likely attributable to the very strong July we experienced. In fact May-August sales for 2013 were ahead of 2012 by a good margin. The 26.5% rise in median sales price is extremely encouraging, but to be fair, is only representative of a single month. The 10% rise in average price is also a strong indicator and seeing the average sale back over $1,000,000, if only for a month, is very pleasing. Inventory continues to run at its lowest five-year level with the highest average price we have seen in that period.
Year-to-date performance continued at a strong pace. While sales are down to a 19.6% increase, this remains robust and keeps the town on target to get back to 2007 levels. Median sales have not risen to double-digit increases. Average sales, on the other hand, are up over 13%. Total revenue, driven in part by the large increase in sales and average sale, are now up 35% above last year.