June Market Report – High Demand and Low Inventory

June 14, 2012 by · Leave a Comment 

·        28% more homes sold last month than the previous month.
However the number of homes for sale has only increased 3%.  More
buyers and fewer homes is why the average days on market for
homes sold is only 59 days.  This is 6% fewer days than last month
and 35% less days than one year ago.
·        Homes Pending, under contract but not yet closed, are at their
highest levels in the last 7 years, and since we only started recording
pending data in 2006, it might be the highest ever!
·        The average and medium prices of sold homes is rising due to
the higher overall demand.  These averages are increasing while
sales of the highest end homes, over $1M, are stagnant.

To view the entire report by Price Band, Area and Zip Code, CLICK HERE
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