Inventory Update for the Week of February 14th, 2024.
A look at Unsold Homes with an MLS status of Active.
For the week of February 14th, 2024, 4,809 properties are actively for sale. This represents an increase of 0.48 percent from last week and 20.16 percent higher than the same week last year.
37.4 percent of homes listed for sale have lowered their asking price by an average of $57,095. The percentage of price reductions is decreasing, down from 38.1 percent last week. 52.7 percent represents the peak that occurred on November 29th, 2023. For perspective, our low point was 35.7 percent for the week of March 15th, 2023.
The current pool of homes for sale has averaged 83 Days in the MLS (DIM), down from 84 DIM last week and up from 75 DIM for the same week last year. When we look at the properties that have a reduced-price DIM jumps to 122 and 59 DIM without the reduction.
Note: Days in MLS (DIM) is defined as the cumulative days a home is in the Active status
.