June is typically the height of the market, as far as closings go, and this year will be no different. There was very little “out of the ordinary” that happened in the market last month and the stats are still showing a very competitive market for buyers and a great market for sellers. Let’s look at the details…

DEMAND: As expected, demand dropped in total, last month. Seasonally July sees a big drop off in activity, mostly due to vacations. This year was no exception, and it continues to be above the 5 year trend.

SUPPLY AND INVENTORY ACCUMULATION: This stat is a bit interesting in that there is usually a steeper drop in accumulation between June and July and there wasn’t this year. When looking into the numbers more closely, it appears to be that the current inventory low really started this time last year, and that is the reason for the lack of the drop. Watch this number. If we see it start to increase to 6 months and above, it is indicative of a shifting market.

SOLD TO LIST RATIO: This number was also very much inline with the same period last year. If this number starts to trend under last year, that could also be indicative of a shifting market.

RATES: Rates continue to stay low around 3.5% – 3.75%. They are not expected to move too much, however only time will tell.

CONCLUSION: July was somewhat sleepy as far as anything happening that is out of the usual, but the market is still moving at a quick pace. Homes are still moving quickly and getting close to their asking price and there are still multiple offers happening.

Regardless of the lack of inventory or how quickly the market is moving, it is a great time to buy or sell. If you are doing either, you must make sure you have the best, most experienced agent possible, on your side. If you would like to interview us for the job, just reach out and call 484-696-4833.

For example, in the Wissahickon SD, homes that have sold in the last 6 months, which are the only relevant homes at this point, between $550-$600, are receiving, on average, 97.9% of asking price. And if we look at just $575-$600, they are actually getting 98.1%.

all of those comps, which included homes up to $600k were selling for an average of 97.5% of asking price, just to make sure you are working off of the most recent, accurate data.   In addition, I

Of course this doesn’t mean it’s impossible to get them lower. My goal is always to beat the average.