The July 2022 stats have been released. Let's see how our local market is performing!
💥 The average sales price had an impressive increase of $172k (24.7%) from this time last year, at $869k compared to last year's average sales price of $697k. This is an increase of $10k from the previous month, which is good, but not anywhere close to the $44k increase we saw from May 2022 to June 2022.
💥 The average list price of $940k is an astounding $283k (43.1%) higher than last year's average list price of $657k, and $63k higher than last month.
💥 The bidding wars have slowed down! Buyers are now paying 98.9% of list price, instead of the 100.1% they paid in June and the 102.6% they paid in May.
💥 Home inventory remains low, with just 332 homes for sale and 1.8 months of inventory. Even with low inventory, this is a 2.8% increase from this time last year and a 2.4% increase from last month. Keep in mind, a balanced market should have 6 months of inventory.
Don't miss this opportunity to sell your house! The market is still hot for sellers, but as you can see from the stats, it is starting to cool off. Contact me to get the process started and visit my website for samples of professional pictures, 3D walking tours, and aerial drone videography we offer all our clients.Â
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