The Latest From Our Real Estate Market

Here are the latest numbers and what they mean for your real estate plans.

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Here’s a quick update on what we saw in our real estate market in June and how the latest numbers compare to what we saw in June 2019.

The big thing to know is that we’re still in a seller’s market. The number of active listings was down 37.4% from June 2019 and down 17% from May 2020. Sold listings decreased by 7.7% year over year and increased 39% from the previous month.

“More homes are selling than are being listed.”

Listings under contract were up 31.4% compared to May 2020 and 17.6% compared to June 2019. Here’s the big number: The months’ supply of inventory was down 35.8% from last year. We are seeing more pending homes every day than we are seeing new listings hitting the market.

The average sold price per square footage was up 4.5% compared to last year and 1.2% compared to last month. The median sold price increased by 5.1% from last year and 5.3% from last month. This is all an indication that prices are going up as supply dwindles.

Homes are hitting the market, receiving multiple offers, and getting a ton of activity. Not only does this make it a great time for sellers, but homebuyers can also take advantage of our low interest rates at this moment.

If you have any questions for me about the market or real estate in general, don't hesitate to reach out via phone or email today. I look forward to hearing from you.