2022 august

What Happened in the Real Estate Market in August?

Over the last three months, we have seen the sales prices slowly giving back some of the major gains we experienced over the past few years.  Even though home prices have leveled off lately, they’re still up substantially from last year.  When you combine that with rising mortgage rates and inflation, its no surprise to see some potential buyers sitting on the sidelines for now.  The positive news is that buyers have more homes to choose from now.  It has been about three years since we have had this amount of available inventory for sale.

Median Home Price

$450,000   +11.1% from August 2021

Homes Sold

2,002   -38.4% from August 2021

Homes Without Offers

7,997   +145.6% from August 2021

Homes Sold Within 30 days

71.7%   -16.1% from August 2021