June 2018 Real Estate Report

July 4, 2018 9:48 am Published by

It’s July and it’s holiday time! Whether you’re heading out of town or enjoying all our great city has to offer, stay safe and have fun!

A quick look at the June real estate activity shows sales declined 5.52% compared to May and were 9.83% lower than June 2017. This bucked the normal trend as sales typically in June are usually as high if not higher than May; go figure!

It certainly is a buyer’s market with the inventory of residential homes hitting a high of 10,230 properties for sale at the end of the month. I feel like a broken record but if you’re a seller you’ve got to look good and be priced right to get noticed. That said 1678 homes did sell last month so there are deals being made!

What I found interesting is that although prices in all the categories are down from 2017, they held relatively steady from May. If you’re a buyer waiting for prices to decline you might find we are near the bottom and it might be wise to take advantage of the great current interest rates.

How will July look? It beats me but if you’re a prospective buyer I would appreciate you sending me a note as to what might be holding you back. Is it uncertainty in your employment, expectation of lower prices or something else?

Quick Facts!

 20 homes sold for more than $1,000,000 in June
 $443,210 was the average sale price for a Single Family Detached Home
 56 Days is the average time it is taking to sell a home in this current market

As always, I appreciate your referrals and if I may of any service, please let me know.

Cheers, Chris

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This post was written by Cat and Chris