As always, we strive to inform our clients and partners with timely market data. Here are the latest stats from our monthly Market Update with Tina Tamboer, Senior Analyst with the Cromford Report, on July 2nd.

Supply25% below normal
+.6 points MOM
+61.7% YOY!
Demand23% below normal
-2.2 points MOM
New Listings7,330 in June (including Coming Soon)
+5% YOY
Closed Sales5,908 in June
-15% YOY
Listings Under Contract7,162 last week
-2.6% YOY
Days on Market at Contract30 DOM in June
+9 days YOY
Median Sales Price$450,000
+1.1% YOY
Annual Avg Sales Price/SQFT AppreciationTotal
+2.7% YOY

Under 2,500 sf (79% of sales in ARMLS)
+2.9% YOY
Over 2,500 sf (21% of sales in ARMLS) 
+2.1% YOY
Price Reductions20% in the last week of June

9,207 month total
haven’t seen that many since June 2014
Sales Over Asking Price17%
Concessions50% – total sales
$9,765 – median
higher than normal; 38-40% typical during this time of year
Sale Price/List Price Ratio97.8% 
Cancellations1,500 in May
haven’t seen that many in a month since 2015
  • We are now in a strong Balanced Market. 
  • We are experiencing a major shift in the marketplace, which will affect the advice you give to your sellers. Homes will not sell as quickly as sellers would like or for the price they expect.
  • Our market metrics are consistent with 2014/2015, our last real Balanced Market.
  • 9 of 17 major cities are in Seller’s Markets. 2 of 17 are in balance, and 6 of 17 are Buyer’s Markets. All but two cities have weakened over the past month.

Bison Ventures is proud to offer the Bison Refinance Program, designed to empower our agent partners and motivate prospective buyers. This initiative addresses buyer concerns over fluctuating mortgage rates, making now an opportune time to buy.

Benefits for Agents:

  • Ease Buyer Concerns: Highlight the opportunity for no-fee refinancing after six on-time payments of their new mortgage, helping clients look past current rates.
  • Stand Out: Differentiate your services by offering financial pathways that lead to savings and more affordable homeownership.
  • Foster Client Trust: The option to refinance within three years promotes long-term planning and positions you as a trusted advisor.
Partner with Bison Ventures: Let’s collaborate to turn the dream of homeownership into reality for more buyers. Contact us to learn how the Bison Refinance Program can be a game-changer for your business.

Please feel free to reach out with any questions, and if you would like more detailed notes, please click here.