June Market Statistics Updates!June was almost a rinse-and-repeat of May. That’s a good thing. Most metrics were up; signs of a continuing strong residential market in NWA.
The one thing of note from last month, new listings were down 22.6% from last month (350+ listings) but still up 17.0% from same time last year (~300 more). This is not atypical for this point in the year. The last 2 year the new listings in the month of June was down from May; a common inflection point in the pace of market activity.
Median sales price was down only slightly from last month. But to illustrate the consistent growth of home prices in NWA, only 1 time in the last 4 years has the 12-month change in median sales price decreased (May 2023, down 1.2%). This is a clear sign that the prices in NWA have continued to climb year-over-year.
One final point, the number of active listings was up 28.2% from June last year. Could be a sign of market slowing, but the fact that the months of inventory is consistently in the lower single-digits, shows we are still in a strong seller’s market.