Thursday, June 15, 2023 / by Julie Winter-Paez
As a continued theme we continue to lag in New listings.. The month of May was no different.
I continue to review the entire MLS and we continue to be down NEW listings year to date by 26% and Closed listings by 26%.
I also took a deeper dive into the off and on water markets and as I thought the waterfront market has been hit pretty darn hard.
- Closed sales are down by OVER 40%
- New listings are down by 37%
- Average listing price is UP by 21% almost three times as much as the entire MLS
- Average selling price is up by 12% which is 5 times as much as the entire MLS
- And; lastly, the days on market is down by 20% which is also more than the entire MLS
The off water home market is a bit of a tamer version of the entire MLS.
- Closed sales are down by only 17% year to date
- New listings are down by 18% year to date
- Average list price is up by 13% versus 7% for the entire MLS
- Average sale price is up 10% versus 2% showing less negotiations in this particular market segment
- And; lastly, the average days on market is down a more conservative 10%