June Sales Show Signs of Slowing Market

By Scott Westlotorn

In summary list and sales prices fell decisively in June year over year. Median sales prices have also been fallen since peaking in January. With historically low inventory the market may have gotten ahead of itself as new properties came onto the market during the Spring selling season at aspirational prices.  Buyers were unwilling to commit and properties sold at prices more proportionate to market value. The graph below shows prices declining since the run up in January but have since moved closer to a market average.

In summary list and sales prices fell decisively in June year over year. Median sales prices have also been fallen since peaking in January. With historically low inventory the market may have gotten ahead of itself as new properties came onto the market during the Spring selling season at aspirational prices.  Buyers were unwilling to commit and properties sold at prices more proportionate to market value. The graph below shows prices declining since the run up in January but have since moved closer to a market average.

If you’re thinking of selling please let us know if you’d like a free market evaluation and what we do to sell home’s in the shortest amount of time for the highest market price.