Market Update: New Listings, Sales, and Pricing Trends Revealed

Stay informed on the latest market trends, new listings, and sales.

Today, I’m here to talk about the market and give you an update. First and foremost, on behalf of myself and my team, I want to wish you all a happy Independence Day as July Fourth is rapidly approaching. We hope that you have a safe, fun, relaxing holiday.

Next, let’s talk about the market. Through May, the number of new listings year over year is continuing to decline. In May, this number was down 22% compared to last year. Correspondingly, the number of sales is off by about 25% from last year. There is significant competition for homes unless they are priced incorrectly, resulting in numerous offers.

The average sales price has increased by 8.5% from last May, rising from $438,251 to $475,536. Similarly, the median sales price, which represents the middle value of all sales, has increased over 6% to $420,000 compared to $395,000 last year.

The number of active listings at the end of the month has remained steady for the past three years. This year, we had 479 houses available for sale at the end of the month, which is roughly the same as last year and the year before. In 2020, we had more than double the number of active houses at the end of the month.


“Have a great holiday and stay informed about the market.”


With low interest rates and homeowners sitting on a 30-year mortgage, the decision to move to a house with an extra bedroom or more space becomes challenging due to the significant increase in costs. People may be reluctant to put their house on the market out of fear they won’t find a suitable home to purchase. This hesitancy seems to be having a major impact on the market.

Lastly, compared to last year, the number of new listings is down 18% and the number of sales is down 23%. The average sales price has increased by a little over 8%, while the median sales price has gone up by 5.6% compared to last year.

If you have any questions about selling or buying, or would like more in-depth information about the market, please don’t hesitate to reach out to me at (608) 212-5743. I would be happy to help you!

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