Meadow Springs saw a quieter August with fewer sales and listings compared to previous months though
house prices remained firm and rental demand stayed consistent.
SALES
There were 9 residential sales recorded during the month down 25 percent from July. The median house
price held steady at $730,000 reflecting 16.8 percent growth year on year
LISTINGS
Listings increased to 14 properties for sale at the end of August marking a 55.6 percent rise from July and
returning to levels seen earlier in the year.
LAND
Land sales were limited with no new listings recorded and minimal movement during the month. The most recent land median price sat at $370,000 with a median of 18 days to sell.
SALES TIME ON MARKET
Houses sold quickly with a median of just 5 days on market matching July and showing strong demand.
Land also moved relatively fast with a reported 18 day turnaround.
RENTALS
The rental market remained solid with 15 leases signed for the month. The median house rent rose to $635 per week continuing its upward trend and reflecting a 5.8 percent annual increase.
RENTALS TIME ON MARKET
There were only 6 properties listed for rent at the end of August down more than 60 percent
compared to last year. Homes leased in a median of 23 days indicating tight supply and
steady tenant demand.
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