June 2024
Looking at this past June compared to June of 2023, we see similar trends we’ve seen so far in 2024. Active Listings continue to increase at a slow and steady pace, rising 35% over last June with 220 homes for sale. New Listings for the month were also up 12%, with 65 new homes listed in June. New Pending Sales were also up slightly this past June, coming in 10% over June 2023. Closed Sales were down quite a bit, with only 29 homes sold in June 2024 compared to 52 in June 2023.
Year to Date – January – June 2024
Overall, there have been 11% less homes sold so far in 2024. Despite nearly 30 less sales, Dollar Volume has only dropped 3%. Average sales prices and median sales prices are higher than last year, but there have been a large number of sales over $1M that is likely pulling those numbers up. In terms of Days on Market, 54% of homes are selling in 30 days or less. That continues to show buyer interest remains high despite any other factors in the market.
Buyers
With Active Inventory and New Listings on the rise, it’s a great time to look for your perfect property! Summer is a great time to view properties because you’ll get a true feel for the area and property during the ‘peak’ season and when they property is most likely offers its best curb appeal. Starting now will also put you in a great position moving into late summer and fall, when many sellers begin considering price changes if their home hasn’t sold yet. Don’t forget – there’s no substitute for experience and local knowledge! Just like you wouldn’t take your Subaru to a Volvo mechanic, you don’t want to work with an agent who doesn’t know this market inside and out. Don’t settle who someone who will just show you the property! Your agent should be your best asset when purchasing.
Sellers
As the market begins to level out – with inventory rising and more listings hitting the market – you’ll want to make sure your property stands out and gets noticed! The experienced agents at Railey Realty can not only help your property garner the most attention right away, but they’ll be able to provide valuable expertise when it comes to pricing in our unique market. It’s much more than just putting a sign in the yard and listing it online. Having a local agent who is only minutes away from your property will also give you peace of mind for showings, inspections, and everything in between.
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