A recap of the real estate market changes in June 2023.

In today’s market recap, we’ll delve into the key market information for June. The real estate landscape has seen a consistent pattern over the past couple of months, and we have found ourselves firmly entrenched in a seller’s market.

The standing inventory for single-family homes in June was a mere 3,800, while townhomes accounted for just 404, and condominiums were as low as 500. These figures highlight the scarcity of available properties on the market. To put it into perspective, a balanced market typically requires around 8,000 to 9,000 homes. The limited inventory creates an advantageous environment for sellers, but it doesn’t necessarily spell doom for buyers.

Although the market may seem challenging for buyers, there are still opportunities to secure their dream homes. The key lies in negotiation tactics and offer structuring. If you’re facing difficulties as a buyer in finding a home, we encourage you to reach out to us. We have successfully helped buyers navigate these conditions. With the right strategy, buyers can still achieve their homeownership goals.

“The June market continued to favor sellers, but buyers can still navigate this market successfully with the right approach and assistance.”

Despite the current market dynamics, both buyers and sellers are actively engaging in real estate transactions. While the conditions may be challenging, it’s important to note that deals are still happening. It’s crucial to stay informed and adapt to the circumstances.

For sellers contemplating when to list their homes, the present moment offers an exceptional opportunity. The current seller’s market is reminiscent of the highly active market experienced at the beginning of last year. As a result, sellers can expect favorable conditions when selling their properties.

The June market continued to favor sellers, but buyers can still navigate this market successfully with the right approach and assistance. Meanwhile, sellers should seize this advantageous moment to list their homes. If you have any questions regarding buying or selling or any real estate inquiries, please feel free to contact us at 702-845-8540. We would be happy to help you!