A quick update detailing how our real estate market is changing.
We know the market, and we’re here to help you. Today we’ll go over the latest market statistics for residential real estate activity in July.
- Active inventory for the whole MLS now has around 2,400 homes compared to about 1,000 a few months ago. This recent increase gives buyers a larger selection of homes.
- The median listing price is $499,000.
- Compared to last year, the average number of days on market is down from 30 days to 22 days. This change may signal a positive trend in the local inventory turnover rate.
- The median sales price is $403,800.
- The number of units sold went down 11.1% year over year and decreased 2.1% month over month. Fewer sales could indicate an opportunity for buyers to negotiate better terms.
We hope you found this information helpful to make smarter real estate decisions. If you’d like more information and assistance, don’t hesitate to reach out to us by phone or email. We look forward to hearing from you.