June Real Estate Statistics

The June numbers are out!  With 90 total sales, there are 20 fewer home sales than last June, but the previous two months were up 14 home sales, so it is still pointing to a flat market compared to last year, but up significantly compared to previous years. 

Overall, 2014 is shaping up as discussed in previous communications.  We have had rapid growth, year over year. since 2009, and the market has finally crested. Last year at this time, we had a total of 471 sales year to date, and this year we have 442. We are still in the stronger part of the year, so expect a solid summer ahead.  It would be unrealistic to expect exponential growth indefinitely.

We are also noticing a higher median price, which reflects a strong real estate market. When the median price is higher, we know there is more demand for homes (as supply and demand will impact the median price).   The inventory of homes has increased in the market, and that may slow down the median price increases for future months.  The median price is affected by the price ranges, locations, and inventory, please check with us concerning your property if you would like to have an update. 

Overall, it appears that the market is stabilizing, and that will help keep the market in balance for both buyers and sellers for the near future. We look forward to the remainder of the year and a continued solid market.