Not much change this week. Active listings remain flat, pending sales showed a minor decline which brought a small increase to the Months of Inventory.
Active Listings reached their highest level this year on 7/27/22 at 1189. Active Listings are slightly down again from last week. 1061 vs 1064 a 0% decrease. Compared to a year ago this week, listings are up 289%.
Active List Prices peaked this year in the week of 3/9/22 with the median at $2,499,500. As of this week they are at a median price of $1,659,000.
Pending Sales are down from last week. 114 vs 120 a 5% decrease. Compared to a year ago this week, pending sales are down 40%.
Pending Sales Prices peaked this year in the week of 3/30/22 with the median at $1,659,500. As of this week, they are now at a median of $1,382,500, which is down from last week where they were at $1,459,000.
Months of Inventory reached their lowest level (favoring a seller) this year in the week of 3/9/22 at 0.16 months of inventory and reached there highest level (favoring a buyer) in the week of 7/27/22 at 2.47 months of inventory
Current Months of Inventory climbed this week. It was 2.05 months of inventory last week and is now 2.15 months of inventory.
(Months of Inventory Guide: 2 months or less = Seller Favored, 2-4 months = Balanced Market, 4+ months = Buyer Favored)
As always… If we can help with any questions as you contemplate your real estate moves, let us know! Tony Meier & Team – Windermere