RE/MAX National Housing Report for June 2021 | Colorado

DENVER, July 19, 2021 / PRNewswire / – June created the perfect triad for a hot housing market: Both home sales and prices in June set record records, while inventory grew for the first time in 15 months.

Typically the biggest month of the year for home sales, June saw sales jump 14.2% from a strong May, outperforming all other months in the report’s 13-year history, which spans 53 metro markets. The average selling price of $ 336,000 was also a reporting record, which was the previous record of. dwarfed $ 320,000 – set in April and tied in May – by 4.9%.

The number of apartments for sale rose 1.9% in May – the first increase since then March 2020. However, inventory was still 37.5% short June 2020 Levels.

“In June there was a unique case where supply and demand rose in unison, thanks to an increase in sellers listing their homes for sale – a very welcome sign for frustrated buyers,” said Nick Bailey, President, RE / MAX, LLC. “People are moving as companies and individuals make long-term decisions about working remotely and returning to the office. Additionally, salespeople seem more confident about finding another home after selling their current home. If these trends continue, inventory levels should be better.” continue to grow. “

Given the year-to-year comparisons distorted by the pandemic, the May-June 2015-2019 averages are helpful to illustrate what is typical at this time of year. June was the top month for home sales for four of the last six years:

  • June 2021 Home sales grew 14.2% month-on-month, more than doubling the 6.4% average growth from May to June 2015-2019. Year-on-year sales increased by 26.4%.
  • Median sales price in June of $ 336,000 was 4.9% over May, very similar to the typical May-June increase of 4.6%. Year-on-year, the price in June is 21.9% higher than in June 2020 $ 275,000.
  • The inventory increase of 1.9% from May to June was far higher than the typical increase of 0.6%. Still, inventory was down 37.5% year over year.

With the 2020 pandemic exception, June has been a leading month for home sales for the past six years:

Top Months for Home Sales *

2020 **:

July, Aug., Oct., Sept.

2019:

May, July, June, Aug.

2018:

June, May, Aug., July

2017:

June, May, Aug., July

2016:

June, Aug., May, July

2015:

June, July, Aug., May

* The four months for each year are listed in the order of most sales

** Home stay orders were placed in many states during the spring and summer

The average days on market in June of 24 were four days shorter than May, meaning a 21 day faster sale compared to June 2020. The inventory in June for 1.1 months compares with 1.2 in May and 2.2 year-on-year.

The highlights and leading local markets include several metrics for June:

Of the 53 metropolitan areas examined in June 2021, compared to the average total number of home sales increased by 14.2% May 2021, and 26.4% higher than in June 2020. At the top of the year-over-year percentage sales growth were Honolulu, HI at + 92.3%, New York, NY at + 80.6% and Miami, Florida at + 78.4%.

Closed transactions:

5 markets with the biggest year-over-year increase

market

June 2021

Transactions

June 2020

Transactions

Year-over-

Year %

change

Honolulu, HI

1,198

623

+ 92.3%

New York, NY

3,365

1,863

+ 80.6%

Miami, Florida

5,793

3,248

+ 78.4%

Philadelphia, PA

8,334

5,066

+ 64.5%

Pittsburgh, PA

3,003

1,897

+ 58.3%

Median Selling Price – Median of 53 Metro Median Prices

in the June 2021, was the median of all 53 Metro median sales prices $ 336,000, 4.9% more than May 2021, and increased by 21.9% from June 2020. Fifty-one metropolitan areas grew double-digit percentages year over year, led by Boise, ID at + 38.0%, Augusta, ME at + 34.7% and Phoenix, AZ at + 30.1%. No metropolitan area recorded a decrease in the median sales price compared to the previous year.

Median sales price:

5 markets with the biggest year-over-year increase

market

June 2021

Median sales

price

June 2020

Median sales

price

Year-over-

Year %

change

Boise, ID

$ 467,812

$ 339,018

+ 38.0%

Augusta, ME

$ 256,000

$ 190,000

+ 34.7%

Phoenix, AZ

$ 400,000

$ 307,500

+ 30.1%

Los Angeles, California

$ 670,000

$ 525,000

+ 27.6%

Salt Lake City, UT

$ 470,000

$ 373,100

+ 26.0%

Days on Market – average of 53 metropolitan areas

The average days in the market for homes sold in June 2021 was 24, four days less than average in May 2021, and 21 days less than average in June 2020. The metro areas with the lowest days on market were Cincinnati, Ohio at 9 and Nashville, TN at 11 p.m. followed by a four-way tie at 12 p.m. under Boise, ID, Seattle, WA, Denver, CO, and Omaha, NE. The highest averages for Days on Market were in Miami, Florida at 80, Des Moines, IA with 73, and New York, NY at 67. Days on Market is the number of days between first adding a home to an MLS and signing a sales contract.

Days on the market:

5 markets with the biggest year-over-year decline

market

June 2021

Days on

market

June 2020

Days on

market

Year-over-

Year %

change

Charlotte, NC

14th

39

-64.1%

Boise, ID

12th

33

-63.6%

Tampa, FL

22nd

57

-61.4%

Baltimore, MD

17th

44

-61.4%

Raleigh-Durham, NC

19th

47

-59.6%

Monthly inventory supply – average of 53 metropolitan areas

The number of houses for sale in June 2021 rose 1.9% from May 2021 and 37.5% less than June 2020. Based on the rate of home sales in June 2021, the monthly supply of inventory decreased to 1.1 from 1.2 in May 2021and decreased compared to 2.2 in June 2020. A six month offer indicates a balanced market between buyers and sellers. in the June 2021, of the 53 metropolitan regions examined, zero metropolitan regions reported a monthly supply of six or more. The lowest monthly inventory level was a five-way tie below Albuquerque, NM; Raleigh-Durham, NC; Manchester, NH; Denver, CO; and Seattle, WA at 0.5.

Months supply of inventory:

5 markets with the biggest year-over-year increase

market

June 2021

Months

Supply of

inventory

June 2020

Months

Supply of

inventory

Year-over-

Year %

change

Boise, ID

0.8

0.9

-11.1%

Des Moines, IA

2.6

3.3

-21.2%

Philadelphia, PA

1.2

1.6

-25.0%

Wichita, KS

0.8

1.1

-27.3%

Washington, DC

0.8

1.2

-33.3%

As one of the world’s leading real estate franchisors, RE / MAX, LLC is a subsidiary of RE / MAX Holdings (NYSE: RMAX) with nearly 140,000 agents in more than 110 countries and territories. Nobody in the world sells more real estate than RE / MAX® based on residential transaction pages. RE / MAX was founded in 1973 by Dave and Gail Liniger, with an innovative, entrepreneurial culture that gives its agents and franchisees the flexibility to run their businesses with great independence. RE / MAX agents have lived, worked, and served in their local communities for decades, raising millions of dollars each year for Children’s Miracle Network Hospitals® and other charities. Visit www.remax.com to learn more about RE / MAX, browse housing listings, or find a representative in your community. For the latest news about RE / MAX, please visit news.remax.com.

The RE / MAX National Housing Report is distributed each month on or around the 15th. The first report was distributed in August 2008. The report is based on MLS data in around 53 metropolitan areas, includes all residential property types and is not annualized. For maximum representation, many of the country’s largest metropolitan areas are represented and an attempt is made to include at least one metro from each state. The definitions of metropolitan areas include the specific counties established by the US government’s Office of Management and Budget, with a few exceptions.

Transactions are the total number of completed residential transactions during the respective month. The monthly portfolio is the total number of residential properties offered for sale at the end of the month (current portfolio) divided by the number of (outstanding) sales contracts signed during the month. If there is no “pending” data available, this calculation is performed using closed transactions. Days on Market is the number of days that pass from the time a property is listed until the property goes under contract for all residential properties sold during the month. The median sales price is the median of the median sales prices in each of the metropolitan areas included in the survey.

MLS data is provided by commissioned data aggregators, RE / MAX brokerages and regional offices. Although the MLS data is assumed to be correct, this cannot be guaranteed. The MLS data is constantly updated so that each analysis is a snapshot at a specific point in time. Each month, the RE / MAX National Housing Report recalculates the data from the previous period to ensure accuracy over time. All raw data remains the intellectual property of each local MLS organization.