We're halfway through the year, and the market's telling us a story. Sales are down by 23.8%-27.5%, new listings have decreased 17.9%-27.5%, and pending sales are down 17%-25.7%. The pace has slowed, but there's a bright side—more homes on the market due to this slower pace.

Median sale prices have risen by 3.4%-5.1% in suburban counties, while Philly experienced a 4.4% dip. Days on the market are becoming seller-friendly, dropping to 16-17 days in suburbs and 41 days in Philadelphia in July.

Sellers, it's an opportune moment with the asking price received ranging from 100.2% to 102% in suburbs and 94.6% in Philly. For buyers, less competition is apparent due to higher rates, but consider future savings if rates drop.

Remember, partnering with local experts is key. The market's nuanced, and seizing the right moment matters. 🏡📈