Hello everyone! You've probably seen our end of month active inventory and closed sales analysis on social media in the past. Going forward, we figured this data would best be shared in blog form; new site, same metrics! Without further ado, let's take a look at June's data and share our thoughts on what's happening.
As the insert mentions, we currently have a total active inventory of 540. This confirms that a summer inventory dip is continuing from last month, which our team certainly anticipated. So, what causes the slump in the summer? First of all, season is indeed the "prime time" for homebuying, but it's important to remember actually closing these deals takes a couple months, and we are just now seeing that in the data. Secondly, when summer hits, some sellers opt to give their home a "break" from the market, as activity slows until the Fall. Whatever the reason may be, you can typically count on a summer inventory reduction.
And here we have the closed sales for June. Number of closed sales and average price did not shift too considerably, but days on market possessed some notable stat lines, with inventory sitting for longer. This has been a continuation of a trend that has been going on for the better part of a year, as the market continue to level and buyers remain patient.
Want to discuss these numbers more? The Waldren Team would be more than happy to! Give us a call or send us an email and we can discuss market data as a whole or in regards to your specific condo or neighborhood! Let our knowledge be your guide!
Hello, we are The Waldren Team (Christine, Michael & Farrah) and we are happy to assist you with all your Marco Island & Naples real estate needs. Whether you're in the research phase at the beginning of your real estate search or know exactly what you're looking for, you'll benefit from having a real estate professional team by your side. We'd be honored to put our real estate experience to work for you. Let Our Knowledge Be Your Guide.
