Active
Volume: 296 (+2.1%)
Low: $619,900 (0)
High: $24,000,000 (0)
Average: $3,519,457.86 (-2.6%)
Median: $2,795,000 (-4.5%)
Under Contract
Volume: 51 (0)
Low: $888,000 (0)
High: $9,750,000 (0)
Average: $2,581,323.51 (+4.8%)
Median: $2,195,000 (+10%)
Pending
Volume: 35 (0)
Low: $729,000 (0)
High: $24,995,000 (0)
Average: $2,932,517 (-1.5%)
Median: $1,841,855 (-7.9%)
Sold (last 30 days)
Volume: 49 (+2%)
Low: $719,000 (0)
High: $5,650,000 (0)
Average: $2,654,594.31 (+2.7%)
Median: $1,988,000 (+4.6%)
Average % Difference between List Price and Purchase Price: -5.1% (-24%)
Over the weekend, someone asked me about the general marketplace for single families. I think we remain in the same position as we were nearly all summer: inventory is low, rates are low, but the urgency seems to have disappeared. FOMO appears to be completely gone. Both low inventory and rates are the perfect recipe to continue to increase housing prices as well as number of transactions.
Nonetheless, I think the data here exemplifies the low inventory, the painfully slow increase in sales, but that buyers are more aggressive in their negotiations. In other words, the market is doing well as demonstrated in the increase in average sale price and median sale price despite the increasing gap between the list price and purchase price.
Volume: 296 (+2.1%)
Low: $619,900 (0)
High: $24,000,000 (0)
Average: $3,519,457.86 (-2.6%)
Median: $2,795,000 (-4.5%)
Under Contract
Volume: 51 (0)
Low: $888,000 (0)
High: $9,750,000 (0)
Average: $2,581,323.51 (+4.8%)
Median: $2,195,000 (+10%)
Pending
Volume: 35 (0)
Low: $729,000 (0)
High: $24,995,000 (0)
Average: $2,932,517 (-1.5%)
Median: $1,841,855 (-7.9%)
Sold (last 30 days)
Volume: 49 (+2%)
Low: $719,000 (0)
High: $5,650,000 (0)
Average: $2,654,594.31 (+2.7%)
Median: $1,988,000 (+4.6%)
Average % Difference between List Price and Purchase Price: -5.1% (-24%)
Over the weekend, someone asked me about the general marketplace for single families. I think we remain in the same position as we were nearly all summer: inventory is low, rates are low, but the urgency seems to have disappeared. FOMO appears to be completely gone. Both low inventory and rates are the perfect recipe to continue to increase housing prices as well as number of transactions.
Nonetheless, I think the data here exemplifies the low inventory, the painfully slow increase in sales, but that buyers are more aggressive in their negotiations. In other words, the market is doing well as demonstrated in the increase in average sale price and median sale price despite the increasing gap between the list price and purchase price.
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