Notice the difference between this week and the last Monday Memo I did on October 15. The total inventory has dropped and the amount of closed sales has also dropped. But the pending sales number is still strong.
If this winter market is typical of others before it you will notice the amount of new listings shrink significantly while the amount of pendings sales not shrinking as much. What that means is the people who put their homes on the market in the winter are competing with fewer sellers for the buyers.
Average Price | Median Price | DOM | ||
New | 23 | $230,767 | $227,600 | |
Total Active | 756 | $254,670 | $221,850 | 159 |
Pending | 25 | $213,856 | $209,000 | 125 |
Closed | 18 | $238,151 | $170,000 | 76 |