Here are the May 2022 stats for our local real estate market.
Welcome to our May 2022 real estate market update. Let’s look at the residential real estate activity in our area.
Active listings were down 40% from last year and up 8% from the previous month. This month-to-month increase meant buyers had a larger selection of homes to choose from. The median list price for May was $438,000.
Compared to last year, the average number of days homes spent on the market before selling was down 45%. This quicker selling period may signal a positive trend in our inventory turnover rate. The median sales price was $326,000.
The number of units sold decreased 18% year over year and 8% month over month.
Since there are fewer sales, buyers might have opportunities to negotiate better terms. We hope this update gave you a better idea of what our market looks like. If you have any questions, please email us at firstname.lastname@example.org or call us at (843) 936-1788. We’d love to hear from you.