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Real Estate Market July Statistics

https://youtu.be/IzDK6DSoEzw





We are seeing the months of inventory increase as the sales drop off

and inventory now being at 93% of the 5 year average.




This month might be the change month, the interest rates took a big jump and buyers are being more and more cautious at the moment. People are still buying and selling, however fewer and fewer are buying right now.

Pricing still is the number one issue for a buyer and the market is moving into a buyers market, especially in the single-family home market where townhomes and apartments haven't been affected as much yet.


  • 305 total sales in June (Down from 394 sales in June and also down from last year's sales of 604 sales last July


  • 2,458 total active listings currently which is up from 2,302 active listings in June. The end of July listings are down compared to the 5-year average of 2,627 listings but up from 1,382 last year. Currently, we are sitting at 93% of the average amount of listings for this time of year based on the average which is signifying nearing a balanced market.


  • July median days to sell increased slightly to 29 days and the average days to sell increased to 38.


  • This past week we saw 114 Price Reductions.


  • Based on the sales and the number of active listings, the current months of inventory is sitting at 8.06 months which is well within the buyer's market range.


Single Family Residential Homes

  • Single-Family Sales 140

  • New Listings 524

  • Current Inventory 1,396(1,313 in June and 706 last July)

  • Total Sold Dollar Value $165,982,980

  • Median Days to Sell 33

  • Average Days to Sell 39

  • Average Sale Price $1,185,593

  • Months of inventory 10.05

Townhome Activity

  • Townhome Sales 52

  • New Listings 104

  • Current Inventory 282

  • Total Sold Dollar Value $36,779,455

  • Average Days to Sell 33

  • Median Days to Sell 25

  • Average Price $707,297

  • Months of Inventory 5.42

Apartment/Condo

  • Condo/Apt Sales 85

  • New Listings 267

  • Current Inventory 208

  • Average Days to Sell 36

  • Median Days to Sell 29

  • Average Price $517,380

  • Months of Inventory 5.46

Let me know if there is anything I can do for you!

Have a great week and feel free to reach out with any questions!

-Mark


Mark Coons

Personal Real Estate Corporation

Coldwell Banker Horizon Realty

2021 Top 3% Internationally Coldwell Banker


Mobile: 250-801-0361

Email: markcoonsrealty@gmail.com