The Late Spring/Summer Rebound

Sales Volumes in July were recently revised. With approximately 180 single family home sales in July, this is reflective of volumes between 2003 and 2007 and again between 2015 and 2017, very busy market periods.

Average prices for single family, year over year, increased by 10.23% to $614,860; the median selling price was $595,800.

Sellers were averaging 99.25% of list price to selling price. Average days on market in July for a listing were 40 days; last year in July was 34 days on market (DOM).

The active listing inventory, the underlying source of this busy market, is 283 homes for sale. As an example of inventory levels, this is less than half the number of homes for sale in early 2009, after the financial crisis.