As we head into the dog days of summer, we have a quick update for you on our June real estate market. We’ll compare this year’s numbers to the ones we saw in June 2019 to get a better idea of where the market is heading.
In June 2019, we had 4,127 active listings. In June of this year, we had just 2,771. Even though inventory was way down, sold homes were down only slightly, from 1,764 last year to 1,720 this year.
The average sale price in June 2019 was $250,000 and has dropped a bit to $243,000 today. The average days on market went up from 49 to 56 days. Pending listings were up slightly from 1,728 to 1,779. Our absorption rate dipped from 2.79 months to 1.89 months.
“Inventory is way down, but sales only dipped slightly.”
Now that we’ve touched on the numbers, we want to express gratitude for all of your support. We wouldn’t be where we are at today without your support. We’ve been helping buyers and sellers achieve their goals safely throughout this pandemic, and we love being able to help our buyers and sellers make their dreams come true.
Finally, our quote for this blog is actually a song from the legendary Lee Greenwood:
“And I’m proud to be an American
Where at least I know I’m free
And I won’t forget the men who died
Who gave that right to me
And I’d gladly stand up next to you
And defend Her still today
‘Cause there ain’t no doubt
I love this land
God Bless the U.S.A.”
If you have any questions for us about market trends or real estate in general, don’t hesitate to reach out via phone or email. I look forward to hearing from you.
