(HAR Report): The time it took to sell a home fell by almost four weeks compared to June 2020. Days on Market (DOM) went from 57 to 29. Due to strong buyer demand and surging home sales, inventory registered a 1.5-months supply compared to 3.0 months a year earlier. That figure is the highest since February of this year and is below the current national inventory level of 2.5 months recently reported by NAR.
Broken out by housing segment, June sales performed as follows:
$1 - $99,999: decreased 35.2 percent
$100,000 - $149,999: decreased 40.7 percent
$150,000 - $249,999: decreased 25.1 percent
$250,000 - $499,999: increased 35.0percent
$500,000 - $749,999: increased 87.0 percent
$750,000 and above: increased 136.5 percent
HAR also breaks out sales figures for existing single-family homes. Existing home sales totaled 9,093 in June. That is up 24.3 percent from the same month last year. The average sales price rose 27.5 percent to $395,846 while the median sales price climbed 24.0 percent to $310,000 – both record prices.