July Housing Market Update

This month’s snapshot as reported by realMLS shows 2,400 closed sales, down 12.5% from June and 9.3% lower than July 2024, continuing a downward trend in sales activity. The median sales price dipped slightly to $356,995, a 0.8% decrease month-over-month and down 2.4% year-over-year.

Homes spent a median of 48 days on market, which is 6.7% longer than last month and up 17.1% compared to July 2024, reflecting a more deliberate pace among buyers.

Active inventory remained relatively stable at 12,727 listings, with a 0.7% decline from June, but still 10.5% higher than a year ago. Meanwhile, new listings dropped to 3,541, marking a 5.3% decrease from last month and 6.0% fewer than July 2024, suggesting that seller activity is softening.

The median price per square foot held steady month-over-month at $201, though it has declined 3.8% from July 2024.