Single-Family Homes Update
Single-family home sales totaled 8,414, the greatest one-month volume of all time. That is up 8.3 percent from June 2016, when sales volume was 7,771. The median price rose 2.6 percent to an all-time record high of $239,023. The average price increased 1.5 percent to $304,155, also an historic high.
Days on Market (DOM), or the number of days it took the average home to sell, fell slightly to 50 days versus 53 last year. Inventory rose from a 3.9-months supply to 4.4 months, matching a level last seen in October 2012.
Broken out by housing segment, May sales performed as follows:
- $1 - $99,999: decreased 12.1 percent
- $100,000 - $149,999: decreased 10.7 percent
- $150,000 - $249,999: increased 12.2 percent
- $250,000 - $499,999: increased 11.5 percent
- $500,000 - $749,999: increased 6.9 percent
- $750,000 and above: increased 13.0 percent
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