(HAR Report): The time it took to sell a home fell by almost four weeks compared to July 2020. Days on Market (DOM) went from 56 to 26. Inventory registered a 1.8-months supply compared to 2.9 months a year earlier. That level is the highest of 2021 but is below the current national inventory of 2.6 months recently reported by NAR.
Broken out by housing segment, July sales performed as follows:
$1 - $99,999: decreased 38.0 percent
$100,000 - $149,999: decreased 37.7 percent
$150,000 - $249,999: decreased 37.8 percent
$250,000 - $499,999: increased 12.0 percent
$500,000 - $749,999: increased 18.9 percent
$750,000 and above: increased 36.7 percent
HAR also breaks out sales figures for existing single-family homes. Existing home sales totaled 8,859 in July. That is up 1.1 percent from the same month last year. The average sales price rose 17.2 percent to $388,876 while the median sales price climbed 15.3 percent to $305,000.