New listings 10 (23) – Last year listing volume bounced back but not this year.
New Pendings of 15 (24) –
Thats -5
Closed sales at 8 (29)
Total houses for sale 107 (61) with median of $1.998M ($2.3M)
Sellers strike continues if not accelerates. This is typically the time of year inventory starts to really drop and we saw that as hypothesized last month.
Ignoring the median list price, I ran a check on last 30 days of closed sales. Its about 1.779m median vs 1.543M same period last year. Prices are still up quite a bit y-o-y for now. More notably there were 105 closings last year over this 30 days period but only 59 this year. Volume is thinning out and Id expect that to continue.
A couple weeks ago I mentioned I thought we could see flat y-o-y inventory at some point in next few months. While that is looking less likely if it did happen it would be more due to sellers taking homes off the market than a surge in buying activity. Good chance we are below 100 next week. That would make running these numbers easy as the system can only return 100 results and Ive to split up my data pulls for now
There are lots of really nice homes on the market that are sitting. I expect that to continue through y/e but in Spring buyers and sellers should come to a meeting of minds more frequently.
