While the median home price showed a slight increase in June (up 1.81%), the statistic that stood out the most was the median days on market, which fell to the lowest level since August 2007. The median time taken to sell a home fell by 50% in the last 12 months, falling from 70 days in June 2011 to 35 days in June 2012. Needless to say this is a very encouraging sign, when homes sell faster this places upward pressure on prices and also encourages people who want to sell their home. Other data for the month showed that home sales climbed 10.64% to 1,206 and the median price per square foot climbed 4.9% to $89.70.
Median Home Price: $196,500 up 1.81%
Home Sales: 1,206 up 10.64%
Median Price Per Sq. Ft.: $89.70 up 4.9%
Median Days on Market: 35 down 50%