New Pendings of 2 (2) – under $1M and it is gonna sell
Thats 0
Closed sales at 7 (4)
Total houses for sale 9 (5) with median of $1.075M ($999k). There were 7 on the market 2 years ago with a 829K median.
A few thoughts.
I looked at the closed sales and they are almost all below $1M and nearly all closed above asking. Homes priced below $900K get multiple offers in almost every case now. Thats setting a floor here in the mid 800’s
The active inventory is mostly $1M plus homes that have been sitting. There is a market above $1M here but it is discerning
Inventory really jumped last May as it usually does. There is a good chance we wont this year and that inventory in the second half of the year will be lower than last year. That would prevent further significant declines. I still think we should get some and that this Fall will be the nominal bottom. But the data is starting to say it may already be in in and that i may have been too pessimistic
