It seems that the summer may finally be here! That means great vacation weather, but it also usually means a slow down in the real estate market. The sales volume of single family homes seems to be trending downwards as we would expect at this time of the year – but only slowly. Less volume may not be what sellers want to hear, but at the same time it seems that prices may have stabilized if the last few weeks, if sales are an indication.
Over the last 30 days, 304 single family houses were sold, down by 27 houses from last week. The median price is up $3,875 to $533,875. The average house was on the market for 42 days. In the last 30 days, 156 condos were sold, up by 1 condos from last week. The median price is up $1,750 to $266,750. The average condo was on the market for 44 days.
There are now 2,452 houses for sale, up by 32 from last week. Condo inventory has risen by 21 to 1139 suites. Last week I reported that inventory dropped, but this week it has shot up again. Maybe we haven’t reached the peak inventory yet?
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