Although sales activity has declined, the average price per sq. ft. of homes sold during the 2nd quarter of $504 per sq. ft.is up approx. 7% from last year.
The average list price of homes for sale at the end of the first quarter of approx. $1.8 million is 28% lower than the comparable time last year. The average sold price of $1.4 million during the quarter is up about 16% compared to the comparable quarte last year. The lower priced homes are still dominating the sales activity however.
With 95 homes listed for sale at the end of June, and sales averaging 29 homes sold per month, this equates to about 3 months of inventory.
Combined with continuing low interest rates, now is an excellent time to consider buying a home.