A Snapshot - June 2023 was a Seller's Market!

In terms of listings, there was a significant decrease of 22.3% compared to the previous year, but a notable increase of 16.3% compared to the previous month. The number of listings sold also experienced a decline of 27.2% year over year, but a modest growth of 4.5% month over month. Additionally, while the number of listings under contract saw a slight increase of 1.1% compared to the previous month, it decreased by 6% when compared to the previous year. The Months of Inventory based on Closed Sales stood at 1.5, indicating a 7.1% increase from the previous year. Regarding prices, the Average Sold Price per Square Footage showed a positive shift of 1% compared to the previous month; however, it experienced a decrease of 4% in comparison to the previous year. The Median Sold Price, on the other hand, observed a modest increase of 0.5% from the previous month. Furthermore, the Average Sold Price displayed a growth of 1.6% from the previous month. Over the past six months, the Average Sold Price trend was identified as "Appreciating," aligning with the trend of the Median Sold Price.In terms of market activity, the Average Days on Market witnessed a downward trend, experiencing a substantial increase of 84.6% compared to the previous year. The ratio of Sold Price vs. Original List Price indicated a slight decrease of 2%, settling at 99% when compared to the previous year.