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Though buyers were out in full force in July, housing supply was outpaced by demand, as new listings declined -0.2% and closed sales fell -8.7% compared to 2020. As buyers chased scarce inventory with multiple offers, the median sales price rose +12.5% to $315,000, setting another historic high. On average, sellers were receiving 102.7% of their asking price.
Read the full report: https://bit.ly/MNR_July21HousingReport
When buying or selling a home, it's important to understand the market and gain helpful insights to help you achieve the best results.