July Market Report

Happy Friday to you and I hope that you are able to enjoy the weekend with your families and loved ones! It’s the first week of the month and that means that it’s time to do the numbers. Our local market is following the national trend... Low Inventory!!! July saw a 21% increase YTD in sold listings which has only added to low inventory levels across Washington County.

 

These low levels are contributing to the steady climb of the average sales price and average list price of homes in the area. Many feel that the trend is being caused by sellers unwilling or unable to find a home they would prefer to live in regardless of their need to upgrade or downgrade their living situation.

 

-Here is the good news for sellers locally: As the weather starts to cool down for the season, we will see a surge                 in buyer activity that has already been strong for the year.

-Good news for buyers is this: July saw a 7% increase in new listings to the market, which will be a trend I anticipate to continue through the remainder of the quarter. Hopefully, we will see an inventory level increase which will keep homes as affordable as possible.

 

One of the best numbers that I see below is the average sale price. Year to date, average sale price has increased by 3.9% which is a solid, sustainable, healthy rise and something that everybody should be happy about. Please have a look at the full report below and let me know if you have any questions.

Best, Dave  

 

Summary Statistics
	Jul-15		Jul-14	% Chg		2015 YTD	2014 YTD	% Chg
Absorption Rate	5.34		6.83	-21.82		5.98	6.59	-9.26
Average List Price	$393,068		$347,390	13.15		$332,619	$317,201	4.86
Median List Price	$289,950		$264,000	9.83		$259,500	$248,950	4.24
Average Sale Price	$250,479		$236,232	6.03		$254,163	$244,619	3.90
Median Sale Price	$225,000		$209,700	7.30		$221,700	$209,500	5.82
Average CDOM	89		107	-16.82		N/A	N/A	N/A
Median CDOM	39		60	-35.00		55	57	-3.51
Sold Listings   This Month Year to Date   2015 2014 % Chg 2015 2014 % Chg 0-49,999 5 5 0.0 37 33 12.1 50,000-99,999 17 25 -32.0 116 139 -16.5 100,000-149,999 57 58 -1.7 371 347 6.9 150,000-199,999 76 47 61.7 498 427 16.6 200,000-249,999 66 69 -4.3 421 354 18.9 250,000-349,999 92 69 33.3 576 429 34.3 350,000-449,999 38 20 90.0 226 178 27.0 450,000-549,999 18 7 157.1 86 60 43.3 550,000-649,999 4 4 0.0 41 40 2.5 650,000-749,999 3 2 50.0 22 17 29.4 750,000-999,999 2 0 N/A 20 13 53.8 1,000,000-1,499,999 0 1 -100.0 7 4 75.0 1,500,000-1,999,999 1 0 N/A 4 2 100.0 2,000,000-2,499,999 0 0 0.0 0 2 -100.0 2,500,000-2,999,999 0 1 -100.0 0 1 -100.0 3,000,000+ 0 0 0.0 1 1 0.0 Totals 379 308 23.1 2426 2047 18.5		Pending Listings   This Month Year to Date   2015 2014 % Chg 2015 2014 % Chg 0-49,999 5 4 25.0 38 35 8.6 50,000-99,999 27 28 -3.6 143 150 -4.7 100,000-149,999 66 57 15.8 423 365 15.9 150,000-199,999 81 64 26.6 560 476 17.6 200,000-249,999 67 42 59.5 460 391 17.6 250,000-349,999 89 92 -3.3 618 476 29.8 350,000-449,999 33 18 83.3 280 205 36.6 450,000-549,999 12 16 -25.0 105 78 34.6 550,000-649,999 15 5 200.0 52 38 36.8 650,000-749,999 2 2 0.0 25 21 19.0 750,000-999,999 6 5 20.0 28 26 7.7 1,000,000-1,499,999 2 2 0.0 8 8 0.0 1,500,000-1,999,999 0 0 0.0 5 4 25.0 2,000,000-2,499,999 0 0 0.0 1 1 0.0 2,500,000-2,999,999 0 0 0.0 0 2 -100.0 3,000,000+ 0 0 0.0 0 1 -100.0 Totals 405 335 20.9 2746 2277 20.6