Sales in the "Wine Country" plummetted June to July! WTH?

By
Real Estate Agent with The MJKelly Team BRE#: 0645724

  So I'm talking to our local daily newspaper real estate reporter last month as our sales FINALLY exceeded 500 for the month of June. NOT by much, 512 to be exact, but the first time in two years. So what happens in July? Prime Time July? Sales go off the cliff from 512 to 403! So what's up with that? Did you guys see this also in your areas? Our median home price was up 12% over last year but you can blame that on the lack of inventory (and sales) and upper end activity.

  If you analyze the $1Mil+ market sales are up as our listings. But overall our market is limping along. The bright spot is the amount of "Under Contract" properties. They are the higest in 2 years so I'm expecting August to kick butt. What are you folks seeing out there?

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