⬆️NEW LISTINGS IN JULY: 360, up from 354🏡
The modest increase in new listings reflects a slight rise in seller confidence. While inventory remains relatively tight, this increase gives buyers more options, which can help ease some of the competition we've seen in previous months.
⬆️TOTAL ACTIVE HOMES: 764, up from 719 📊
We’re seeing a gradual build in overall inventory, which is a positive trend toward a more balanced market. Sellers should take note: with more homes available, strategic pricing and presentation are becoming increasingly important.
⬆️MONTHS SUPPLY OF INVENTORY: 3.13, up from 2.86 📉
The months of inventory has inched closer to a balanced market, which typically ranges from 4 to 6 months. While we’re still in a seller’s market, the shift suggests buyers are gaining a bit more leverage, especially in price negotiations.
⬇️UNDER CONTRACT IN JULY: 87, down from 90 📜
Pending sales dipped slightly, which could indicate buyer hesitation due to interest rates, affordability, or seasonal trends. It’s a reminder for sellers that demand remains but buyers are becoming more selective.
⬇️TOTAL HOMES UNDER CONTRACT: 347, down from 367 🏠
The total number of homes under contract has decreased, reinforcing the theme of a softening pace in buyer activity. Homes that show well and are priced appropriately will continue to stand out in this evolving market.
⬆️MEDIAN (HOMES SOLD) DAYS ON MARKET: 57, down from 60 ⏳
Homes are spending slightly less time on the market compared to last month. This suggests that serious buyers are still active and are moving quickly when the right property becomes available.
⬇️SOLD IN JULY: 244, down from 251 🪧
The number of closed sales in July was marginally lower than June. While not a significant drop, it highlights the importance of pricing homes correctly from the start to ensure a timely sale.
⬇️MEDIAN SOLD PRICE $435,000, up from $420,000 📉
Despite a minor slowdown in transactions, home values continue to rise. This is a strong indicator of the area's ongoing demand and long-term investment potential for homeowners.
⬇️ SALE PRICE/LIST PRICE RATIO: 98.40%, up from 98.12% 📈
Homes are still selling close to list price, underscoring the need for buyers to come in with strong offers, especially on well-maintained and competitively priced homes.
💰 Price Analysis:
🏡 Homes Sold Under $499,999: 143 sales
🏘️ Mid-Range Market ($500,000–$999,999): 85 sales
💲 Luxury Market ($1M+): 16 sales
Are you ready to explore your real estate options or have questions about these statistics? Let’s discuss how these numbers can impact your buying or selling strategy!😄 🌟