July Property sales were 143, up 25.4% from 114 in July of 2020 and -3.4% lower than the 148 sales last month. July 2021 sales were at their highest level
compared to July of 2020 and 2019. July YTD sales of 897 are running 59.6% ahead of last year’s year-to-date sales of 562.
The Median Sales Price in July was $1,250,000, up 28.2% from $975,000 in July of 2020 and up 2.7% from $1,217,500 last month. The Average Sales Price
in July was $1,430,007, up 18.9% from $1,202,208 in July of 2020 and down -0.4% from $1,435,126 last month. July 2021 ASP was at highest level compared
to July of 2020 and 2019.
INVENTORY & MSI
The Total Inventory of Properties available for sale as of July was 177, up 18.0% from 150 last month and down -18.8% from 218 in July of last year. July
2021 Inventory was at the lowest level compared to July of 2020 and 2019.
A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The July 2021 MSI of 1.2 months was at its lowest level
compared with July of 2020 and 2019.
The average Days On Market(DOM) shows how many days the average Property is on the Market before it sells. An upward trend in DOM tends to indicate a
move towards more of a Buyer’s market, a downward trend a move towards more of a Seller’s market. The DOM for July was 24, down -17.2% from 29 days
last month and down -35.1% from 37 days in July of last year. The July 2021 DOM was at its lowest level compared with July of 2020 and 2019.
SELLING PRICE PER SQUARE FOOT
The Selling Price per Square Foot is a great indicator for the direction of Property values. Since Median Sales Price and Average Sales price can be impacted
by the ‘mix’ of high or low end Properties in the market, the selling price per square foot is a more normalized indicator on the direction of Property values.
The July 2021 Selling Price per Square Foot of $673 was equal to $673 last month and up 22.6% from $549 in July of last year.
SELLING PRICE VS LISTING PRICE
The Selling Price vs Listing Price reveals the average amount that Sellers are agreeing to come down from their list price. The lower the ratio is below 100%
the more of a Buyer’s market exists, a ratio at or above 100% indicates more of a Seller’s market. The July 2021 Selling Price vs List Price of 102.3% was up
from 102.1% last month and up from 97.5% in July of last year.
INVENTORY / NEW LISTINGS / SALES
‘This last view of the market combines monthly inventory of Properties for sale along with New Listings and Sales. The graph shows the basic annual
seasonality of the market as well as the relationship between these items. The number of New Listings in July 2021 was 135, down -20.6% from 170 last
month and down -16.1% from 161 in July of last year.