How’s the Market in Columbia County? July Recap

⛱️Wow August already… where did the summer go?  Actually this August weather is fabulous and if we can hold on to it for several more weeks I will be very happy😎 But I’m here to talk about what happened in July, so let’s take a quick look back.  

📈Listings climbed slightly but remain historically low…it still feels very much like there’s nothing on the market. Interest rates have climbed and that has definitely softened buyer demand. 

📉The sales price to list price ratio in the first 30 days on market dipped below 100% for the first time in over a year, but 53% of the sales in July still happened in the first 30 days.  The average DOM was the shortest it’s been all year.  Pending sales are up over the previous month. So what does this all mean?  Well… Buyers are still buying but they are less likely to overbid outside of a few unicorn properties. 

🏡 Despite the feeling that there is nothing on the market, buyers should realize that there is actually more inventory today than there has been all year….this may be the peak inventory levels for the year. If homeownership is a goal this year, now is the time. I’d argue that the best time to buy is when everyone else is sitting on the sidelines.

🤔 It’s a complex market and it’s hard to predict how it will play out in the back half of the year.  If you are thinking of buying or selling in the near future, or just curious and want more insight on the market, contact me to schedule a private consultation.  

So what do you think of the market… tell me what you think in the comments 👇 

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