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Inventory Drops As Values Rise [INFOGRAPHIC]

Randal Engelmann & Erik Gould

We are Randal Engelmann and Erik Gould, partners in providing exceptional customer service. Together we offer both buyers and sellers the highest leve.

We are Randal Engelmann and Erik Gould, partners in providing exceptional customer service. Together we offer both buyers and sellers the highest leve.

Feb 7 1 minutes read

We're back again singing that same old tune! As July closed out in Jamaica Plain, we saw 53 sales between condominiums, single family homes, and multi-family homes. If you compare that to 2016, which had 67 sales, that's 20.9% decrease. However, JP's housing market isn't unique in this trend. It's happening nationally. Here's a quick snapshot:


Highlights:

  • Existing Home Sales are now at an annual pace of 5.52 million.
  • Inventory of existing homes for sale dropped to a 4.3-month supply, marking the 25th month in a row of declines.
  • The median price of homes sold in June was $263,800. This is the 64th consecutive month of year-over-year price gains.
  • Jamaica Plain's average price in July increase by almost 4% over 2016. 

Parts of this article originally appeared in Simplifying the Market.

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