Hey, we just made it through the July 4th weekend, and I hope you had a blast! The summer has been super busy so far, and the numbers don't lie! So, let's jump right into your June 2021 market update.
Hey, it's Aquontis Garlington, Monterey County's Best NEW Real Estate Agent. On this channel, I talk about getting you into home ownership, the equity you can gain from owning a home, and the importance of participating in your community.
So if those are the type of things you're here for make sure you subscribe. So, June was super busy and it's a brand new month, so here we are today with your Salinas housing market update. Let's jump right into it!
In the month of June, the median home price increased by $20,000, going from $660,000 to $680,000. This is just evidence that this summer business is picking up and people are out looking and making really serious decisions in the housing market.
Even though we saw an increase in median home price, we are still seeing the list price received sit at about the same.This month, it came in one percent below the previous month at 102%.
With such low inventory numbers in the marketplace, sellers are still able to get full price or better for their home. All the competition for buyers is causing buyers to come in at their best and biggest offer to ensure that they get the home that they love.
Days on Market has remained in the single digits and barely stayed there. We are sitting at eight days giving you eight days to think about, "hey, do I want to buy this house?" This has been a trend month over month.
So if you are a buyer. Make sure you have all your finances together. That way you can take action when you find the home that you love because you don't have too much time to think. Now, this graph I really like, because what you can see is illustrated is new listings versus sold listings.
Over the last few months, we've really been seeing new listings outpace sold listings month over month. And that's really, really encouraging for buyers because they have a few more choices. But that does not fix our inventory shortage issue at all.
As you can see in the graph, we sold 87 listings versus having 124 new listings hit the market. All in all, we are seeing the summer market shine through and through like we expected.
So make sure you keep in mind, for the month of June in the Salinas market, it cost $680,000 for the average single family home, and it sold in 8 days for 102% of the asking price.
If you're thinking about buying or selling or just have some real estate questions, make sure you subscribe to my channel. Thanks for watching. And of course, as always, remember, representation is key.