The July real estate market, as is typical, was marked by reduced inventory as new listings slowed and sales closed.
Active listings in July were down to 157 from 181 in June, and 167 in July 2018.
Slow sales in the upper end of the market was evidenced by an average active listing price of $906k in July vs. $871k in June and $774k last year.
Spring contracts are closing and multiple offers in the $500k to $800k range were reflected in the 7% premium in sales price over ask in July vs. 4% average over the past 12 months.
Inventory should bottom out in August as few houses come on and some homeowners temporarily withdraw from the market to take a break from showings in August.
Thinking about selling this fall?
We expect the market to pick up sharply in September. If you are thinking about listing in the fall, now is a great time to get pictures of outdoor spaces like pools and gardens.
Contact us for pricing help and more timely tips for the fall market, Rich
PS – Get the best price for your home by planning ahead.
The Stanton Company Home Sellers’ Countdown Calendar