Update here to with y-o-y maing its return after a brief hiatus
New listings 32 (30) – should be peak listing time around now and if we see much higher ahead thats notable
New Pendings of 18 (25) – continuing to drop each week which is typical of the time of year and not in itself notable. The gap between new listings and new pendings is what is more notable
Thats -14
Closed sales at 19 (24)
Total houses for sale 111 (69) with median of $2.08M ($1.8M).
Inventory contiinues rising as it typically does and usually peaks in late July to early August. We are still averaging about 3 pendings per day over last couple weeks which puts us under 1 and 1/2 months of inventory.
We are starting to see the market separate and return to more traditional patterns. In a typical market the best homes here always sell well at top dollar while homes with challenges be they condition, floor plan, lot, location or pricing sit unless price is properly discounted for that. In a booming sellers market such as weve had the last 2 years, everything sells and homes take less of a discount because of panic driven buying. Thats not the case anymore in current conditions. With more choices buyers are more prone to wait for the right one
