In August, closed sales were down 17% compared to a year ago, with 8,256 transactions across the state. New listings followed the cooling trend, falling 17.9% compared to last August even as the total number of homes for sale increased by 2% to 13,271. This bumped the supply of homes on the market to 1.9 months, an 18.8% gain over last year.
Although the median sales price increased 4.4% to $330,000, sellers were receiving slightly less than their asking price, down 2.2% to 99.3%. Homes were sitting longer, too, with days on the market averaging 29 days, up 7.4% from August 2021.
See the full August Housing Report here.
"Buying a house for the first time couldn't have been easier. You were so helpful and hard-working and would drop anything to make it happen for us! We appreciated all the communication throughout the entire process. Sometimes it’s overlooked but good communication made this so easy."
NATHAN & AMANDA | JULY 2022
"Thank you, David, for doing so much for me. I am already dreaming of decorating my new place. Thank you for being diligent in helping me find the right home, and thanks for answering my questions quickly. I love the way you handled the entire process."
JOANN | JULY 2022
Closed Sales and New Listings Slip in June
In June, closed sales of homes declined by nearly 14% compared to a year ago, with a total of 9,208 properties sold across the state. New listings were down 6.4% year-over-year even as the total number of homes for sale increased 8.2% to 12,298 properties.
Overall housing inventory increased significantly, up 21.4% over last June to 1.7 months’ supply of homes on the market. Despite softening activity relative to last year, consumer demand drove the median sales price up 6.2% to $345,000, and the average price increased 9% to $401,319. Sellers were still receiving an average of 102.5% of their asking price, although this marks a slight 0.7% decline compared to June of last year.
See the full June Housing Report here.
On Saturday morning, May 7, I'll be presenting a seminar about housing options for seniors.
CLICK HERE for more information. If you, or someone you know could benefit from this, please forward the link.
When buying or selling a home, it's important to understand the market and gain helpful insights to help you achieve the best results.