What’s new in the market?
New Listings were down 5.1 percent for single family homes
and 16.7 percent for townhouse-condo properties. Pending
Sales landed at 157 for single family homes and 51 for
The Median Sales Price was up 5.6 percent to $617,950 for single family homes but decreased 2.5 percent to $407,000 for townhouse-condo properties. Days on Market increased 22.6 percent for single family homes but decreased 38.9 percent for townhouse-condo properties. Prices have continued to increase this fall despite softening home sales nationwide, as a lack of inventory has kept the market competitive for prospective buyers, sparking bidding wars and causing homes to sell for above asking price in some areas. Heading into September there were only 1.1 million units available for sale, 0.9% fewer than a month ago and 14.1% fewer than the
same period last year, according to NAR. As a result, the U.S.k
median existing home sales price rose 3.9% year-over-year
to $407,100, marking the third consecutive month that the
median sales price topped $400,000.