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I’m here with your real estate market update for June of 2016.
Last month, 9,735 new listings came on the market. Compared to the 9,343 homes that came on the market in June of 2015, that is a 4.1% increase. Active listings have also gone up from 22,652 homes last year to 24,393 in 2016, which is a 7.2% increase.
The number of homes sold has also gone up by 4.1% year over year, from 8,675 in 2015 to 8,952 this past June. 'This month's supply of inventory has also increased slightly. Last June, we had 2.61 months of inventory, and this year, we had 2.72 months of inventory, which is not a major change.
Historically, more homes sell in the months of June, July, and August than any other time of the year. Most families prefer to move in the summer when the kids are out of school. If you have a smaller home, you may think that now is not a good time to sell because families want to purchase bigger homes. However, a lot of people are actually downsizing and looking for those smaller homes.
No matter the size of your property, summer is a great time to sell and a great time to move. If you have any questions, give me a call or send me an email. I would be happy to help you!
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