Current inventory at 7 with median price of $770K. All are on a week or less and likely in process of negotiating a final deal with multple buyers
Ran into one of the old time MM agents this weekend. Ran into him last in the Fall while househunting with clients that got in late last year. Asked him how tough it was and he said much tougher than even a few months ago.
One interesting phenomena is low inventory not only can push prices up but it can also hold them down. We need a string of closed sales for prices to march upward. Looking at the 3 closed sales the last week, 2 were put together by agents that never had the house on the open market. Both agents put a buyer into the house off market at prices I’d consider below market. One was a good $50K below market IMHO. Seller was a real estate licensee who shouldve wanted it on the market but maybe they their reason. The other is hard to say how low it was and might not have been. But without full market exposure its tough to say it couldnt have gone for more. Seller was related to agent also.
