June Market Report – High Demand and Low Inventory
June 14, 2012 by Laura Duggan · 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
