August 2023 Market Update
While sales volume for June was strong, volume for July was the lowest in the prior 6 years with 13.6% fewer closings than July 2022. Overall, sales volume for the year is down 36.4%
July 2023 Market Update
It is most note worthy that while the sales volume for the first five months of the year was down significantly, June of 2023 saw a higher number of sales than in June of the prior two years.
June 2023 Market Update
Most notable is that sales volume is significantly down when compared to the same months in years prior. April saw a 44% decrease in sales volume when compared to May of 2022. The year-to-date sales volume is down approximately 28% when compared to 2022 as well.
May 2023 Market Update
Most notable is that sales volume is significantly down when compared to the same months in years prior. April saw a 20% decrease in sales volume when compared to April of 2022. The year-to-date sales volume is down approximately 22% when compared to 2022 as well.
April 2023 Market Update
Most notable is that there were only a reported 93 sales in March, which is a 33.6% decrease when compared to the 5-year average of sales volume for the month of March.
March 2023 Market Update
The primary factor in the residential market is a significant shortage of supply of homes in inventory. Many properties are experiencing multiple-offer situations and sale prices well above list. Most of these properties have been extensively updated, and it appears most buyers are willing to pay a significant premium for updates.