Total houses on the market 93 (125 last year) with a median of 2.3M (not recorded).
Two years ago 64 with median of $1.985M. Of note this is when the last surge in the market really started. Two years ago in Aug 2021 seasonality should have kicked in but absurdly low rates did instead. We all know what happened next.
Inventory bumped up nicely and this is something to watch to see if that continues. There are a bunch of nice homes sitting on the market but not selling as fast as they have/should. Prices have gotten ahead of themselves the last few years. We know that and that low inventory has supported that. Those folks are gonna need to make concessions to sell the next few months. I think there will be some pullback here with the regular seasonality taking root. We should see some sales around 10% below Spring comps from sellers that capitulate. Then things should firm up again next Spring.
