With a 68% increase in available inventory from July of last year, the close-price-to-list-price ratio is the lowest it’s been since July 2020.
The median close price dipped slightly from $601,000 to $600,000, but prices continue to rise compared to the median close price of $590,000 last July. July’s average number of active listings from 1985 to 2023 is 15,502. The record high for the month was 2006, with 31,989 listings. The record low was 4,056 in July 2021.
“I’ve recently heard realtors express that we are shifting into a buyer’s market,” Levinson-Katz said.
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