The number of homes closed in June is up 7% from last month and in total Midland County has had 517 homes close in the 1st half of the year. Last year during the same period, 564 or about 9% more homes closed. However, in just the last 2 weeks, an additional 50 homes have accepted offers. It looks like the gap left by the slower start to the year will be filled shortly.
Good news for sellers, the average home sales price is on the rise, up over 23% from last month. It will be interesting to see if this trend continues, or if the spike in the average is merely caused by some higher priced homes closing.
Discounts have remained steady at just over the 3% mark. This means that on average homes are selling very close to their last listing price. It’s important for both buyers and sellers to watch this trend as they head into negotiations on a home sale.
As predicted the average days on market for homes sold has taken a significant dive, down nearly 13% from last month. In the last two weeks, homes that accepted offers were on the market for an average of just 48 days. A quick sale can be exciting for sellers. However, buyers need to work closely with their Realtor® so they don’t miss out in this faster paced market.