The Academy School District 20 Real Estate Market - July 2011
The summer buying season is beginning to slow down. Average sales price are up 4% and median sales price up over 10% over June. Inventory dropped slightly and sales dropped by 25% increasing the months of inventory from 5.6 months in June to 7.4 months in July. We are seeing "would be renters" deciding to buy because of the competitive rental market and great interest rates. With a 2% vacancy rate, the desireable and reasonably priced properties are renting quickly, even as quick at 2 hours from the moment they hit the MLS.
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