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Market Update: June 2022

These shifts have significance for buyers and sellers alike. Sellers are receiving fewer offers, and they will need to price their homes appropriately for the current market to avoid excessive days on the market (thus increasing local inventory).

Buyers face their own challenges. Pricing has not dropped significantly; in fact, the average home sale price exceeded $400,000 this year—the highest ever. First-time home purchases are down 31% from one year ago. But while sellers need to avoid increasing local inventory, sellers can benefit from the extra choice and time it offers them.

As always, I’d love to help you with your next move and take special care of any referrals that you send my way.

- Tommy

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