Update time along the NCC. Numbers for week ended yesterday. This is the month. This is when more inventory traditionally comes on the market most years. Just not seeing that
New listings 21 – thats a very small number
New Pendings of 32 – plenty of demand. This has been around the weekly number every week for the last 4 motnhs. Remarkably consistent
Thats a -11 for the week.
Closed sales at 36 –
Price reductions at 2
Total houses for sale 73 with median of $1.85M. Iventory is up a bit in the face of less new listings and consistent demand. Id have to dig deepeer but suspect we are seeing a higher than usual fall out rate but the houses go right back into escrow. Inventory is still abysmal. While there are a handful lower priced homes the market starts around $1.25M for all but the smallest homes or those with condo ownership/zero lot lines. I also think there are a whole bunch still negotiating multiple offeres received over the weekend. I suspect prohoff is in that category. I just see a lot still active that I know have offers on them.
30% appreciation year over year is pretty much in the tank and Im seeing a bunch showing closer to 40%. I cant wait for my new neighbors. Old ones sucked
