Inventory Update for the Week of February 28th, 2024
A look at Unsold Homes, Price Reductions, and Day in MLS with a status of Active.
For the week of February 28th, 2024, 5,030 properties are actively for sale. This represents an increase of 1.76 percent from last week and 33.63 percent higher than the same week last year.
38.0 percent of homes listed for sale have lowered their asking price by an average of $54,063. The percentage of price reductions increased, up from 37.5 percent last week. This represents the first uptick since late November.
The current pool of homes for sale has averaged 79 Days in the MLS (DIM), down from 81 DIM last week and up from 73 DIM for the same week last year. When we look at the properties that have a reduced-price DIM, jump to 117 and 56 DIM without a reduction.
Note: Days in MLS (DIM) is defined as the cumulative days a home is in the Active status.