Real estate agents and brokers sold a record 345 homes in July in the 10-county region served by the Longview Area Association of Realtors. It was the most ever in a single month.
The number of homes sold in July topped the previous monthly record of 341 homes sold in June 2018, according to association data going back to January 2012. Agents and brokers have sold more homes so far this year, at 1,944, than the 1,918 homes sold during the same seven-month period in 2018.
At 345 in July, they sold about 12.7% more homes than the 306 sold in July 2018. However, the average sale price dropped 3.6% from $199,766 in July 2018 to $192,630 this past month.
“Homes are flying off the market,” Melanie Northcutt Crocker, owner-broker of Sugar Magnolia Properties, said in a statement. “We are barely having a chance to get them listed before we have multiple offers — especially in the $150K to $220K range.”
She said it is typical for this time of the year to be the peak season, because families want to get settled before schools resume. She also said interest rates “are really in a buyer’s favor right now.”
Homes stayed on the market an average of 102 days in July, about 8.6% longer than 94 days a year ago, according to data from the association's Multiple Listing Service.
Within Longview ZIP codes, agents and brokers closed 95 sales in July, up about 5.6% from 90 a year ago.
The median sale price for homes in the ZIP codes was $190,500, up 6.4% from $179,000 a year ago.
No price range dominated sales within the ZIP codes, unlike data from previous monthly reports.
Homes in the $100,000 to $199,999 range accounted for 44.5% of all sales in the ZIP codes, followed by 26.7% for homes ranging from $200,000 to $299,000 and 11.1% below $100,000.
Active listings in the ZIP codes fell about 14.4% to 370 in July from 432 a year ago.
Homes spent 114 days on the market in July, up about 4.6% from 109 a year ago. Months of inventory declined to five compared with 5.6 a year ago.
The association’s data is based on its Multiple Listing Service, which represents about 85% of total sales in the market. It does not capture sales by owners or some sales of new construction by builders.