PD the appreciation rate is determined by the median correct? Now common sense would dictate that with longer inventory the median should go down because those on the market longer would lower the price.
Remember though that for high end property the expectation is a much longer period on the market. Also if the property was not priced correctly to begin with, then they lower the price after being on the market several months, they still may sell and it still may pull the median up…
Maybe what this realtor told you is true… maybe not. You know that stats can always be manipulated…
