June Real Estate Market Update

Hello, St. Thomas! Here is your market update for June 2023. We saw new listings coming in at 87. There were 54 homes that traded hands, which is up 12.5% from this time last year. We are currently sitting at 1.7 months of inventory, down by 1.1 months. The average home price rose to $586,738, and the median days on the market sits at 10.So, what does all of this mean heading into summer? With families enjoying vacations, holidays, and whatnot, it's likely that they have already purchased their homes and may be moving into their new homes over the summer months. Therefore, we're not likely to see fewer families in the market.If you found this information useful, take care!