The trend is continuing with the amount of price reductions. This past week especially the solds have dropped off.
We are already 6 months into 2022. This month the trend we have been seeing over the last couple of months was really emphasized. We are noticing a slowdown, some of it seasonal but a good portion feels like it was from the rate increases.
Overall the market is still moving, it is not stagnant however, pricing and marketing are becoming more and more important. Buyers are becoming a bit more cautious as they wait and watch the market move to more of a buyer's market. We are now at 88% of the overall inventory of the five-year average.
395 total sales in June (Down from 567 sales in May and also down from last year's sales of 764 sales in June)
2,302 total active listings currently which is up from 1,854 active listings in May. May listings are down compared to the 5-year average of 2,645 listings but up from 1,452 last year. Currently, we are sitting at 87% of the average amount of listings for this time of year based on the average which is signifying nearing a balanced market
May median days to sell increased slightly to 24 days and the average days to sell increased to 33. These numbers are skewed by homes that have relisted.
This past week we saw 121 Price Reductions.
Single Family Residential Homes
Single-Family Sales 175
New Listings 667
Current Inventory 1,253(1035 in June and 665 last June)
Total Sold Dollar Value $218,691,781
Median Days to Sell 25
Average Days to Sell 34
Average Sale Price $1,249,667
Townhome Sales 77
New Listings 209
Current Inventory 290
Total Sold Dollar Value $53,499
Average Days to Sell 25
Median Days to Sell 19
Average Price $694,794
Condo/Apt Sales 102
New Listings 267
Current Inventory 411
Average Days to Sell 33
Median Days to Sell 24
Average Price $505,412
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!
Personal Real Estate Corporation
Coldwell Banker Horizon Realty
2021 Top 3% Internationally Coldwell Banker