July 2025 was a Seller's market! The number of for sale listings was up 100% from one year earlier and down 25% from the previous month. The number of sold listings increased 116.7% year over year and increased 85.7% month over month. The number of under contract listings was down 76.9% compared to previous month and down 57.1% compared to previous year. The Months of Inventory based on Closed Sales was 0.5, the same as the previous year. 

The Average Sold Price per Square Footage was up 1.3% compared to previous month and up 6.1% compared to last year. The Median Sold Price decreased by 1% from last month. The Average Sold Price also increased by 4.1% from last month. Based on the 6 month trend, the Average Sold Price trend was "Neutral" and the Median Sold Price trend was "Depreciating".

The Average Days on Market showed a neutral trend, an increase of 200% compared to previous year. The ratio of Sold Price vs. Original List Price was 99%, a decrease of 7.5% compared to previous year. 

It was a Seller's Market

Property Sales (Sold)
July property sales were 13, up 116.7% from 6 in July of 2024 and 85.7% higher than the 7 sales last month.

Current Inventory (For Sale)
Versus last year, the total number of properties available this month was higher by 3 units of 100%. This year's bigger inventory means that buyers who waited to buy may have bigger selection to choose from. The number of current inventory was down 25% compared to the previous month.

Property Under Contract (Pended)
There was a decrease of 76.9% in the pended properties in July, with 3 properties versus 13 last month. This month's pended property sales were 57.1% lower than at this time last year.

The Average Sold Price per Square Footage was Neutral*

The Average Sold Price per Square Footage is a great indicator for the direction of property values. Since Median Sold Price and Average Sold Price can be impacted by the 'mix' of high or low end properties in the market, the Average Sold Price per Square Footage is a more normalized indicator on the direction of property values. The July 2025 Average Sold Price per Square Footage of $711 was up 1.3% from $702 last month and up 6.1% from $670 in July of last year.

* Based on 6 month trend – Appreciating/Depreciating/Neutral 

The Days on Market Showed Neutral Trend*
The average Days on Market (DOM) shows how many days the average property is on the market before it sells. An upward trend in DOM trends to indicate a move towards more of a Buyer’s market, a downward trend indicates a move towards more of a Seller’s market. The DOM for July 2025 was 12, down 33.3% from 18 days last month and up 200% from 4 days in July of last year.

The Sold/Original List Price Ratio Remains Steady**
The Sold Price vs. Original List Price reveals the average amount that sellers are agreeing to come down from their original list price. The lower the ratio is below 100% the more of a Buyer’s market exists, a ratio at or above 100% indicates more of a Seller’s market. This month Sold Price vs. Original List Price of 99% was up 2.1% % from last month and down from 7.5% % in July of last year.

* Based on 6 month trend Upward/Downward/Neutral
** Based on 6 month trend – Rising/Falling/Remains Steady

The Average For Sale Price was Depreciating*
The Average For Sale Price in July was $2,362,000, down 1.7% from $2,403,000 in July of 2024 and down 0.6% from $2,377,000 last month.

The Average Sold Price was Neutral*
The Average Sold Price in July was $2,066,000, down 11.4% from $2,333,000 in July of 2024 and up 4.1% from $1,984,000 last month.

The Median Sold Price was Depreciating*
The Median Sold Price in July was $1,980,000, down 11% from $2,225,000 in July of 2024 and down 1% from $2,000,000 last month.

* Based on 6 month trend – Appreciating/Depreciating/Neutral