We've been busy, but so has the market! Kip's back with a quick end of summer update where he compares stats from the end of the July and the end of August. Some things are different, but the market hasn't shifted as much as you think! 

 

Inventory (Number of homes on the Market)

July 26, 2022: 739 Homes

August 31, 2022: 730 Homes

 

Average Days on Market

July 26, 2022: 15

August 31, 2022: 15

 

List to Sale Ratio (Percentage of list price that homes are selling for)

July 26, 2022: 110.9%

August 31, 2022: 110.4%

 

Homes Sold per Month

July: 344

August: 378

 

Homes sold Year to Date

July 26, 2022: 3,305

August 31, 2022: 3,801

 

Months of Inventory (How long it would take to sell all active listings)

July 26, 2022: 1.5 Months

August 30, 2022: 1.54 Months

 

Average Sale Price:

July 26, 2022: $527,647

August 30, 2022: $534,930

 

Mortgage Rates are on the rise and temperatures are dropping, check back in for Kip's August to September Update later this month!