The June market report consists of 11 pages of graphs and statistics.
When I analyze these charts, there are several factors to which I pay special attention:
- The pending sales count for each month.
- The number of new listings each month. When new listings do not keep up with the pending sales, we begin to see an imbalance of inventory.
- "Months of inventory" refers to the number of months it would take to exhaust active listings at the current sales rate. The current rate of 2 months inventory indicates a seller's market.
- The average percentage of list price to sales price for homes sold each month gives you an idea of price flexibility when negotiating a contract.
Our MLS covers a large area and obviously not all areas have the same statistics.
As all real estate is local, and all local is local, please feel free to contact me for any information you would like to have on specific areas within the MLS area.
Below is the link for this month's report.