Sales are still higher than at any time in the past four years. New listings are struggling to keep up with demand. Yesterday, 10% of the sales went for list price or higher.
Compared to the 3-year average,
- Sales are up 10%
- New listings are down 8%
- 30-day median price is up $9,000(+2.2%)
- Inventory is down 20%
With inventory at 3511 today, it’s far too low to satisfy all the buyers looking for a home. A good number of the active listings are inferior or overpriced, and we are seeing intense interest in any new listing that’s well-priced and attractive. What’s surprising is that the median price is holding steady in the face of the demand.