(Above: Average sale price climb decelerating over the past two years)
The real estate market continues to level out this month in essentially every measurable way. It’s a far cry from what we saw during the same time last year.
This month’s sales dipped far below what they were last month, setting a new low for the past few years at just 259. Days on the market and cumulative days on the market are each up to a two-year high at 97 and 102 respectively.
We predicted monthly inventory to rise above six months, but did not expect to exceed seven this soon. Month’s inventory was 7.21- also the highest in more than two years. And inventory was up again to 1868, despite new listings actually being down from January.