2014 & 2015 seasonal trends in inventory, new listings and contracts.

65 closings took place in June and, notably, the median sales price was $750k, the highest in 5 years. There was quite a bit more activity in the $1 million to $1.4 million price range. By comparison, median prices of homes sold in the past year have more typically been in the $575k – $625k range.

Inventory shrank to 180 units in June from a seasonal high of 199 in May. The pace of new listings slowed to 66 in June from 86 in May.

There are still motivated buyers in the market looking to get into homes before summer is over. I foresee continued strength in the upper part of the market with some softness as prices approach $2 million.

Do you have specific market questions?

Call me to discuss.

Best, Rich