REI Update: Market Performance July 2022

Sales of real estate in the United States continued to rise in July 2022, with cities in the South and West seeing the biggest increases.

The highest sales were reported in Miami, Florida; San Antonio, Texas; Phoenix, Arizona; Las Vegas, Nevada; and Seattle, Washington. These cities have seen strong growth in recent months, as more people are looking to relocate to sunnier and drier climates.

The median sale price for a home in the US was $315,000 in July, up 5.3% from the same month last year. Prices are expected to continue to rise as demand for housing remains high.

According to the Miami Association of Realtors, the median sales price for single-family homes in Miami was $365,000 in July 2022, up 8.6% from the previous year. The average sales price for condos and townhomes was $233,000, up 5.4% from the previous year.

There were a total of 2,591 sales of single-family homes and condos/townhomes in Miami in July 2022, up 7.1% from the previous year. The total number of active listings was 9,307, down 12.3% from the previous year.

The median days on market for single-family homes was 50 days in July 2022, down from 54 days the previous year. For condos and townhomes, the median days on market was 61 days, down from 68 days the previous year.

The percentage of sales that were cash transactions was 28.7% in July 2022, down from 30.1% the previous year.

The average interest rate for a 30-year fixed-rate mortgage was 3.74% in July 2022, down from 4.17% the previous year.

Miami’s population is estimated to be 476,000 as of July 1, 2022, an increase of 2.3% from the 2010 census. The city’s Metro area population is estimated to be 6,012,331, an increase of 8.0% from the 2010 census.

In July 2022, the average home in San Antonio, TX sold for $237,000. This is up from June's average of $232,500. The median home price was $225,000, also up from the previous month. Inventory levels continued to fall, with only 2,843 homes on the market. This is a decrease of nearly 12% from June and is the lowest level seen since April 2016. Homes are selling fast in San Antonio, with the average home going under contract in just 33 days. This is down from 43 days last month and is significantly lower than the 54 day average seen last year at this time. Prices are expected to continue to rise as demand for housing in San Antonio remains high.

If you're thinking of buying a home in San Antonio, TX, now is a good time to do so. Prices are expected to continue to rise as demand for housing in the area remains high. Inventory levels are low, so you may have to act fast if you find a home that you're interested in. Homes are selling quickly, so it's important to be prepared with your financing in order before beginning your search. Work with a local real estate agent who can help you navigate the market and find the perfect home for you.

According to the Seattle Real Estate Board, the average price for a home in Seattle was $725,000 in July 2022. The median price for a home was $665,000, and the average rental price was $2,200. The average price per square foot for a home in Seattle was $335. In July 2021, the average price for a home in Seattle was $715,000. The median price for a home was $655,000, and the average rental price was $2,150. The average price per square foot for a home in Seattle was $325.

In July 2020, the average price for a home in Seattle was $690,000. The median price for a home was $635,000, and the average rental price was $2,100. The average price per square foot for a home in Seattle was $315.

In July 2019, the average price for a home in Seattle was $665,000. The median price for a home was $615,000, and the average rental price was $2,050. The average price per square foot for a home in Seattle was $305.

Between July 2018 and July 2019, the average price for a home in Seattle increased by 3.8%. The median price for a home increased by 4.1%, and the average rental price increased by 2.4%. The average price per square foot for a home in Seattle increased by 3.3%.

Between July 2017 and July 2018, the average price for a home in Seattle increased by 10.1%. The median price for a home increased by 11.3%, and the average rental price increased by 8.2%. The average price per square foot for a home in Seattle increased by 9.1%.

Between July 2016 and July 2017, the average price for a home in Seattle increased by 12.7%. The median price for a home increased by 14.0%, and the average rental price increased by 10.4%. The average price per square foot for a home in Seattle increased by 11.7%.

Between July 2015 and July 2016, the average price for a home in Seattle increased by 13.9%. The median price for a home increased by 15.4%, and the average rental price increased by 11.6%. The average price per square foot for a home in Seattle increased by 12.9%.

Between July 2014 and July 2015, the average price for a home in Seattle increased by 14.8%. The median price for a home increased by 16.4%, and the average rental price increased by 12.5%. The average price per square foot for a home in Seattle increased by 13.9%.

The average price for a home in Seattle has increased significantly over the past few years. The median price for a home in Seattle was $665,000 in July 2022, which is an increase of $100,000 from July 2019. The average rental price in Seattle has also increased significantly, reaching $2,200 in July 2022. This is an increase of $150 from the average rental price in July 2019. The average price per square foot for a home in Seattle has also increased significantly, reaching $335 in July 2022. This is an increase of $30 from the average price per square foot in July 2019.

The real estate market in Seattle is expected to continue to grow in the coming years. The population of Seattle is expected to increase by 2.1% between 2019 and 2024. The job market in Seattle is also expected to grow, with an estimated 3.7% growth in jobs between 2019 and 2024. The combination of population growth and job growth will likely lead to continued increases in home prices and rents in Seattle.

If you're thinking of buying a home in Seattle, now is a good time to do so. Home prices are expected to continue to rise in the coming years, and interest rates are still at historically low levels. Rents are also expected to continue to rise, so if you're looking for an investment property, now is a good time to buy.

If you have any questions about the real estate market in Seattle or about buying a home in general, please don't hesitate to contact me. I'd be happy to answer any of your questions.