"The average days on market has jumped slightly in the last month."

At 1:28 in the video above, you’ll see the average list-to-sale price ratio from May 2020 through July 2021. Homes are now selling for 103% of their list prices on average, which is down slightly from 104% in June. There are fewer bidding wars these days, but homes that are priced right are still seeing multiple offers and selling at or above list price. The average days on market has jumped up slightly from 12 to 14 days in the last month.

Finally, our inventory is starting to go up. We’re up from 0.6 months to 0.9 months from June to July. We’re still in a very solid seller’s market, but supply is on the rise. A balanced market has six months of inventory.

You can take advantage of this market as a buyer or seller. Things aren’t quite as hectic as they used to be, and that’s a big advantage for buyers. However, sellers who price right and market their homes properly are still selling quickly and for top dollar.

If you have any questions for me about the market or real estate in general, don’t hesitate to reach out via phone or email. I look forward to hearing from you soon.