The trends of June have held for July. Closed listings up from last year again, except this time a big 20.7%. New listings are up as well. Inventory is down 36% from last year and down about 6% from last month.
This big lack of inventory, however, is creating an even more competitive market driving the average closed price up to $530,918 for the month.
Looking year over year, things appear more stable. It sure doesn’t feel like it.