Mortgage rates hit an all-time low yesterday!

Combine the improved purchasing power with the covid-delayed selling season and the lowest inventory in recent history, and we have full-blown frenzy conditions. Look at how July wound up:

NSDCC July Sales & Pricing – Preliminary

Year
# July Sales
Avg. $$/sf
Median SP
July Mortgage Rate
# Listings, 1st Half
2012
258
$365/sf
$850,000
3.55%
2,545
2013
297
$418/sf
$930,000
4.37%
2,790
2014
271
$451/sf
$1,018,000
4.13%
2,714
2015
321
$458/sf
$1,025,000
4.05%
2,871
2016
271
$504/sf
$1,110,000
3.44%
2,999
2017
261
$528/sf
$1,240,000
3.97%
2,725
2018
273
$544/sf
$1,280,000
4.53%
2,701
2019
281
$612/sf
$1,300,000
3.77%
2,725
2020
343
$620/sf
$1,420,000
2.99%
2,293

We had 342 sales, and there will be some late-reporters. Wow!

Has pricing caught up with the market conditions yet?

author avatar
Jim the Realtor
Jim is a long-time local realtor who comments daily here on his blog, bubbleinfo.com which began in September, 2005. Stick around!

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