Realcomp’s July Report Reveals Unexpected Shifts in Real Estate Market Trends
Realcomp has released its July sales statistics, offering a glimpse into the current real estate market dynamics. The data shows a mixed bag of trends that could influence both buyers and sellers in the coming months.
Closed Sales saw a slight increase, up by 2%, signaling a steady demand in the market. However, Pending Sales dropped by 5%, which might indicate some hesitation among buyers or delays in transactions. Despite this, the Median Sale Price rose by 5%, reflecting the continued rise in home values.
In terms of inventory, New Listings were up by 8%, providing more options for prospective buyers. Homes On Market also surged by 17%, suggesting that properties are taking longer to sell or that more homes are entering the market. Supporting this, the Average Days On Market increased by 3 days, now averaging 29 days.
These statistics highlight a market in flux, with increased inventory and prices rising, but with some signs of cooling demand. As we move forward, it will be interesting to see how these trends evolve.
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Donald Horne / Broker-Owner
Team Success Listing LLC
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