The July 2022 market data is coming in HOT!! While it is still a "Seller's Market" home sales have slowed and the average time a listing stays on the market has increased. Reasons for this slight cooling of the market include inflation and rising mortgage rates. Last month there were 4,352 homes sold with an average sales price of $535,777. There is currently about 2 months of inventory available with 9,740 homes still on the market. This increase in inventory is another significant factor for cooling the market because home inventory can help determine if it's a buyers or sellers market. What does all of this mean? Simply that its a modest sellers market and if you are considering selling your home, be sure to go with a qualified agent that will price your home correctly.
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