Update time. See last weeks narrative. thats what is happening.
New listings 22 – back to average listing counts as expected
New Pendings of 23 – peak frenzy and bidding wars seem to be past. Seeing some homes last more than a week that wouldnt have a month ago
Thats a -1 for the week. Getting back into balance.
Closed sales at 27 –
Price reductions at 6. Starting to see overpriced listings reduce. Some overshot their expectations and could pay for it by getting less with market settling down.
Total houses for sale 74 with median of $1.887M
Inventory building slowly as expected. Market seems to be getting more orderly. Still plenty of buyers but as inventory builds buyers get less motivated hoping for much lower prices. Advice to buyers, be picky for long term homes, could get easier and better in Fall but get something locked up by end of Novemeber. Next Spring could be crazy again
