June Market Statisitics
- Single-family home sales declined 15% in June to 297 closed sales. This puts sales down 10% for the first half of 2022 compared to 2021.
- Prices continue to escalate, with the average price up 12% to $344,440 and the median up 13% to $398,900.
- Days on market are down to 8 days. However, homes that sold between $450k to $499k had 39 days on market for June, and homes sold between $500k and $750k were 21. This is the first increase in the number of months of inventory since March of 2019.
- The number of months supply of homes on the market increased for the third month in a row, up 35%. This seems like a big jump in inventory, but inventory only went from .71 months to .96 months.
- Building permits in Columbia, Ashland, and Boone County were down 21% from last year in all three locations. Overall, permits are down 28% from January through June compared to the first six months of 2021.
- The market appears to be leveling off as we see inventory rise towards reasonable levels. Buying a home is becoming easier with fewer multiple offer situations and listing your home is still fantastic with the continued low inventory.
Source – Columbia Board of Realtors, June 2022