New listings 15 (22) – another nice drop with a holiday weekend and peak listing time past
New Pendings of 20 (23) – a bit of a bump from last week. Still demand out there
Thats -5
Closed sales at 16 (27)
Total houses for sale 121 (74) with median of $1.995M ($1.887M).
Inventory basically flat since last week. Starting to wonder if we have seen peak inventory for the year? Pendings should continue to march along at current pace but will sellers flood the market. Im thinking they wont and some will start to pull homes off the market that dont sell in the next 30 to 60 days. I think we’ll be back under 100 by end of Summer if not sooner.
Also seeing a fair amount of price reductions as homes reach 2, 3 and 4 weeks on the market. These are motivated sellers with expereinced agents doing their jobs. If it isnt generating offers/selling by these times its time to look at pricing if you are searching for the market level. Good to see that
