It’s TOO DARN HOT and HUMID to think of anything witty at the moment. Please, enjoy the tantalizing charts and info below, as I am melting in the corner with an iced coffee…
W H A T ‘ S H O T . . .
○ DEJA- VU – Housing inventory is STILL historically low, yet the amount of closed transactions are increasing, making a pretty curve for the chart.
- Compared to last month: June 2016 Sales (150) is an 6% INCREASE from May 2016 Sales (141)
- Average Sales Price slight increase – June 2016 Average Sales Price, $192,600 compared to last month’s, $191,935.
○ Average Days on Market = 97 Days; Median Days on Market = 47 Days……YEH-AH! (Said in best Lil’ Jon’s voice.)
- • Close to 40% of the closed transactions in June were on the market for 30 DAYS OR LESS.
- • Of those 40% homes sold, 41% sold at 100% or more of their List Price.
○ LAND SALES are up and up, and away – As mentioned in a previous post, I was wondering how this low-inventory was going to affect the new construction in our market. I will let the bars speak for itself.
○ “ALL THE SINGLE LADIES, all the single ladies…” Per a recent article in REALTOR Mag, Single female homebuyers are the second largest home buying group, representing 18% of the whole, (married couples come in first at 54%.) Discover how these single women are changing the home buying market, Read RISMedia’s Housecall article HERE.
W H A T ‘ S N O T . . .
○ Higher priced inventory – Homes priced above $400,000 are at a standstill in our neck of the woods. On a positive note, if you are a buyer looking in this price range, there some beautiful homes to be had with little “other buyer” competition.
○ Compared to last year: June 2015 had 5 more sales than June 2016. You can see from the visual, that 2015 had a rocky and unpredictable spring season, with a skyrocket in June. This year, Spring 2016 was more consistent. We are 3 sales away from 2015’s YTD sales. Let’s see where June’s 235 pending sales places us in July.
*This report was prepared by and for the use of Westhills Ltd. REALTORS. It is not to be copied in whole or in part without explicit permission of Katherine McNicholas.
**All data based on information from the Greater Augusta Association of REALTORS®, Inc. or Multiple Listing Service for the period 6.1.16 through 6.30.16. All information is believed to be accurate, but cannot be guaranteed.