The supply of homes available for sale continues to shrink, resulting in higher prices. At the end of July there was only a 1.9 month supply of homes. A 6 month supply is considered a balanced market between sellers and buyers. With a 1.9 month supply, if you are thinking about selling your home today, you will have little competition. The following is a snapshot of the past 1 ½ years and why this is a “Seller’s Market”. Date Months of Inventory Median Sold Price Days on the Market July 2015 1.9 $220,000 68 June 2015 2.1 $216,000 61 Jan 2015 4.9 $199,000 88 June 2014 3.0 $183,000 70 Jan 2014 5.7 $158,000 77 Less homes on the market, means less competition. Less competition, means more buyers chasing fewer homes. Less homes + more buyers = higher prices. In July the median sold price was $220,000. Up 1.9% from June. Up 28% from January 2014. Listing to Contract, 2 ½ months. A great time to sell. 
