MARKET STATS FOR July 2023 Year over Year Comparison

New Listings were down 26.3 percent for single family homes and 17.8 percent

for townhouse-condo properties.

Under Contracts decreased 7.2 percent for

single family homes and 5.6 percent for townhouse-condo properties.

The Median Sales Price was up 2.2 percent to $690,000 for single family homes

and 2.9 percent to $422,000 for townhouse-condo properties.

Days on Market increased 57.1 percent for single family homes and 78.6 percent for townhouse-condo properties.

Despite a drop in existing-home sales, home prices have remained near record

highs, with a national median sales price of $410,200 as of last measure, 0.9%

below the all-time high of $413,800 recorded in June 2022, according to NAR.

With only 3.1 months’ supply heading into July, the lack of inventory has

boosted competition among buyers and put upward pressure on sales prices,

especially in more affordable markets, where competition for homes remains

particularly strong.

CLICK ON THE THUMBNAIL GRAPHIC ABOVE LEFT FOR THE FULL JULY REPORT

Current as of August 3, 2023. All data from REcolorado® and IRES®.