End of June Market Report
Over the past month, trends continue to sway in sellers’ favor. Take median price for example. We began June at 189k, increasing to 192.5k mid-June, and now 195k to close the month. In our Mid-June report, we questioned whether “a few expensive properties skewed the average, or if prices are beginning to trend upwards. Only time will tell.” $6,000 is certainly a significant pricing difference, that could potentially make or a break a deal. Further, market supply has remained comparable throughout the month [1422 properties averaging 120 days on market in early June vs. 1404 averaging 122 days currently]. Affordable properties are scooped up rapidly. This will continue to perpetuate the current seller’s advantage.
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