Found 1 blog entry tagged as real estate trends.

July 2024 Market Highlights

  • Year over year, the July median single-family-home sales price and the median condo/co-op price were up 4.2% and 2.7% respectively:  Both declined slightly from all-time highs in June.

  • The supply of existing-home listings rose 20% year-over-year to the highest count since autumn 2020, while the number of new-construction single-family homes on the market was the highest since 2008. Price reductions on active listings in July jumped 43% year-over-year.

  • Existing-home sales increased 3.5% from June and 4.6% from July 2023 but remained far below long-term norms. 

  • Approximately 62% of sales went into contract in less than 1 month (vs. 74% in July 2023), 24% sold over list price (vs. 35% last…

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