July was an interesting month. The trend of increasing supply has stopped, as fewer sellers are putting homes on the market; the number of listings in July is slightly down year/year. Given market conditions and specific property types, sellers are less incentivized to sell homes and those who don't need to sell may choose to keep that inventory off the market. The recent trend of single-family homes outperforming townhomes, and especially apartment-condos, has not changed - but overall sale metrics (listing to sales ratio, days on market, months of inventory, etc.) all remained in balanced territory (with certain neighborhoods outperforming over others). As always, it's important not only to find the right property that suits your needs within your budget but also to understand the particular nuances of the property you're buying or selling to negotiate the best terms.
July Market Stats!
