Summer is in full swing and we are taking a look at the market stats from June. The market reports come out on the 15th of each month, so we’re always looking back in time. This month we can see some of that initial COVID-19 impact, but also see things snapping back to right where we were before this health crisis started.

The number of home sales that occurred in June were slightly lower than last year for a 2nd month in a row, but that is largely a reflection of that initial lockdown. You can see the number of pending sales is up since this time last year. What’s not reflected in this chart is that the pending sales have gone up the last 2 months in a row. Pending sales are a reflection of future closed sales, so it appears we may be right back to where we were by the end of summer.

The number of listings is still down – and a lot! Obviously this being a health crisis, many people have decided they don’t want to expose themselves by listing their homes. That low inventory has caused the prices to continue to rise again. The median sales price is about 6% higher than this time last year! And the interest rates got even lower. With that kind of rate, buyers are eager to buy and just finding it difficult to get their offer accepted due to heavy competition and lack of options.

If you were hoping to make a move this year and COVID-19 has put a pause on that, give us a call to create a safe plan to sell and get top dollar while the buyers are buying.

Call us today 407-982-7240 Or Download our FREE guide to buying and selling simultaneously. Text BUYSELL to 407-641-2888 and learn how to cash out your equity and upgrade into a new home.

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