Monday, July 22, 2013

Monday Morning Market Update

Locally, June was a good month for real estate closings and new sales. Inventory is still fairly low in our area, resulting in less days on market and higher prices. For buyers, this means if you like a home,  make an offer or it may not be there tomorrow!
Below is my Keller Williams office sales statistics for June:

- Our agents had 287 written units which is a record!
- We had a record written volume of $71,893,064! 
- Our agents had 254 closed units processed, which is another record!! (prior to June, the highest closed units in a month were 209 units)
- We had a record closed volume of $65,028,514! (prior to June, the highest closed volume was in June of 2010)

Personally, June was one of my best months to date!

National Existing Home Sales by Price:
  • Median prices in May were in the $100,000 to $250,000 price category in the Midwest and South but fell into the higher $250,000 to $500,000 category in the Northeast and West.  Looking at all homes in the country, the median falls into the $100,000 to $250,000 price range.
  • The median price is the point at which the middle-priced home sold.  By definition, half of homes in an area sold at a higher price and half of homes sold at a lower price than the median.
  • By price tier, sales were up from a year ago in all price categories in all regions except in the lowest price tier, although the Midwest was an exception to this categorization; sales were up slightly in the under $100,000 category in that region.
  • Sales in the lowest price tier began to show less growth and even decline in some areas in 2012.  Unsurprisingly, this was the same period when we saw the biggest tapering off in reports of distressed sales in our survey of practitioners.  Still, even after the decline in sales in this category and growth in higher price tiers, one out of every six homes sold nationally is priced less than $100,000.
  • In April, sales growth was highest in the higher price tiers but the highest growth tier varied by region.  In May, the highest-growth price tier for all regions was the $750,000 to under $1 million category.  In fact, in the Midwest and West, sales in that price tier were up more than 50 percent from a year ago.

Full Information here:

Existing Home Sales by Price Category

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