Remember last month, when the owners of single-family homes (along with Congress and psychoanalysts) went on vacation in August? Well, they’re back in town and eager to sell. The number of new properties put on the market in Area 705 shot up in September.
|New Listings||September 07||1 month ago||change||3 months ago||change||Year ago||change|
This has made inventory bloated, bloated, bloated.
|Active Listings||September 07||1 month ago||change||3 months ago||change||Year ago||change|
The usual rules of supply and demand seem to be coming into play — finally — because prices are starting to track sales figures. The number of single-family homes that have been sold has been on a four-month slump, with median prices in that category leveling off. Meanwhile, closed sales for condos have bounced around a lot, but enjoyed a big spike in September, with an accompanying jump in median price.
Note: All information from sources deemed reliable but not guaranteed.