People like fast reads in the summer, so I’ll keep it short.
Local MLS data through the end of July 2019 showed supply constraint on Existing Home sales. Months-of-Inventory sat at 2.5, with total listings pegged at 1170. Compared YoY, that is over 200 fewer listings, but with the same 2.5 MOI. That translates to a 15.7% decrease in sales volume YoY. This squares with a step-up in Average Sold Price YoY from $199k to $207, and corresponding Average Sold Price/SF YoY from $87 to $90.
Our Movers-Moving index hit a strong summer number of 144 transactions (see attached).