Total houses on the market 77 (46 last year) with a median of 2.5M (2.425M). Two years ago we were at 34 and in 2021 we were at 55.
Inventory went up despite more pending than listings for two reasons. We are seeing a higher percentage of homes falling out of escrow than we typically do. With prices and rates this high buyers are stretched and picky with more buyers remorse setting in. We also see homes coming off the market that haven’t sold for improvements. Rather than lowering prices sellers are taking them off to fix them up a bit more. There’s also the game playing of take a home off the market for a week or two and try to come back as a new listing.
The market is just hanging in there with buyers being discriminating as to what they want and dont want
