June 2012 Utah County Housing Statistics

Pending home sales posted a thirteenth straight month of double digit increase, sitting at 594 which is up 15.3% this June. Closed sales dipped slightly with a 4.3% decrease, sitting at 556 sales last June and 532 sales this year. This isn’t surprising as we are beginning to compete against las year’s numbers which were also good, not to mention with declining inventories it’s getting harder for buyers to find the right home.

Inventory continues to decline new listings were down 15.4%, and our total inventory is down 25.8%, with our months supply of inventory also down substantially to 6.4 months, a 37.6% decrease from last year at this same time. Average and Median Sales Prices continue to improve with both metrics up 4.3% this month. The Median Sales Price is $182,000 and the Average sits at $209,922.