July was another healthy month for residential real estate in NWA.

July was down slightly from June for many statistics. Both total sales dollars and total number of closed transactions were down 5% and 2.2% respectively. Although compared to a year ago, July was significantly more productive with double digit percent increases over July 2023.

There are still strong indicators of an active residential real estate market. Active and New listings were both up from last month, while expired listings were down in that same time period. The median days on market dropped by 6 days from June. Months of Inventory stayed steady at 4. Similarly, the original list price to sales price ratio held for another month at 100%.

As we settle into the back half of the years, it’s reasonable to anticipate the market slow in volume with typical market seasonality.