May Real Estate Update
May was an incredible month!
- There were 8,214 homes available for sale at May month end, 8,093 homes came on to the market in May, 7,252 homes went under contract, and 5,865 homes closed in May for a closed $ volume of $1.7 Billion.
- The month end inventory @ 8,214 homes available for sale was up 18% month over month and down 22% year over year.
- May month end represented the second consecutive month this year where the inventory of homes available for sale increased.
- School is out and the Prime Home Selling/Buying season is in full swing.
- Under Contract and Closed transactions are up when compared to the previous month and same month last year.
- Pricing remained stable when compared to the prior month and yet was up when compared to the same month last year.
- At May month end, the mortgage interest rates increased.
Year to Date: 29,879 homes came on to the market, 29,547 homes went under contract, and 20,632 homes closed for a closed $ volume of $6.1 Billion.