Summer is the busy season for real estate.  Families with kids usually move during this time of year, as it makes an easier transition for switching schools.  Buyers continue to offer above asking price as they deal with low inventory.  The Fed raised rates for the second time this year although the 30-year fixed mortgage rate hasn’t increased much.  Many buyers are locking in their rates now and house hunting in fear of a future rate hike.  Inventory decreased by 3.5% and the median sales price increased by 10.3% this past month making it the perfect time to be a seller!

Check out a recap of June 2018’s market statistics to see how your neighborhood fared:

Click to read NEFAR’s June 2018 market statistics

Source: Northeast Florida Association of Realtors