How did our market fare in July? Let’s take a look at recent statistics and find out.
The latest numbers from this July’s real estate market are in, so let’s take a look at the statistics and what they mean for you.
First, 51% of single-family homes that were listed successfully sold. This is a 2% increase from the previous month, but a 7% decrease year over year.
As for duplexes and row houses, 61% of listings sold this July, constituting a 9% increase from May, but a 2% decrease from July of last year.
Finally, 46% of listed condos sold this past July, which is an increase of 9% from May, but a 4% decrease year over year.
The bottom line is this: It’s still a great time to buy. With sales volumes trending upward, though, buyers may have to make decisions more quickly than in the past. Other buyers are re-entering the market, so competition is hot.
That said, sellers are also in a preferable position right now. The chances of selling are rising back to levels similar to what we saw in 2017 across all property classes.
If you have any other questions or would like more information, feel free to give us a call or send us an email. We look forward to hearing from you soon.