Monthly Market Update
June Market Update
Average Sales Price
Average Days on Market
Compared to 2022, the numbers for June show:
- There were 363 less properties listed
- Average sales price increased by about 1.72%
- Homes sat on the market for an average of 29 more days
Compared to last month, the number of listings decreased by 106 properties, appreciation continues to decrease (down from 2.9%), and days on market went up by over a week.
What does this mean?
Fewer properties are being listed and the ones that do are sitting on the market for twice as long. Although less inventory tends to give sellers a leg up, with higher days on market a buyer might be able to negotiate a lower purchase price. Listing a home at a competitive price can help your property garner more interest and sell at a faster rate.
With summer vacation coming to an end in a few weeks, many buyers will want to purchase a home and close before the new school year. If you're considering selling this summer, now is the time to get your home on the market. Click here and we can help!