Months Supply of Inventory (MSI) Decreases:

In June 2024, the housing inventory dropped by 12.02%, with 761 homes available for sale. With an average of 246 closed sales per month over the past year, the MSI stands at 3.09.

Average Sale Price Going Up:

Prices are on the rise! The average sale price increased by 14.44% to $398,234 compared to $347,973 last year.

Average Days on Market Shortens:

Homes are selling faster, with an average of 45.28 days on the market, a decrease of 3.16 days (6.53%) from June 2023.

Sales Success for June 2024 is Positive:

With rising prices and shorter days on market, the Listed vs. Closed Ratio finished strong at 60.6%, up from 56.3% last year.

New Listings and Closed Listings:

June 2024 saw 467 new listings (down 10.19% from last year) and 283 closed listings (a slight decrease of 3.41%).

Overall, the market is heating up with increasing prices and faster sales! #RealEstateMarket #HousingTrends #MarketUpdate #HomeSales #RealEstateNews