Home sales are down, but the median sale price is holding steady in our market.

What do the latest July statistics say about our market?

Month over month, the number of home sales dropped by 12% from 987 in June to 871. Despite the drop, that’s still a very high number. The median sales price stayed at just over $200,000, which is only the second time that’s ever happened—the first time was in June when it closed at $209,000. At this time last year, the median sales price was $185,000.

"The majority of economic experts predict that the next recession won’t happen until 2020."

There’s a lot of talk out there right now about our market being in a bubble, but I recently read a Wall Street Journal report that said that the majority of economic experts predict that the next recession won’t happen until 2020.

Of course, none of us has a crystal ball, so if you have any more questions about our market or you’re thinking of buying or selling a home, feel free to reach out to me anytime. My team and I would be happy to help you.