This week’s Inventory dropped by 1.56 percent from last week. This marks 13 weeks of seasonal decreases. Compared to last year, inventory is up 11.7 percent giving buyers more options.
41.1 percent of the available homes for sale have reduced their asking price. Those homeowners have reduced their prices by an average of $57,134 and have spent 123 days in the MLS.
Those listing without a price reduction have only spent an average of 64 days in the MLS.
When we look at the detached segment of the market. This segment dropped by 3.1 percent from last week yet increased by 8.04 percent from the same week last year.
When we look at the attached segment of the market. This segment rose by 1.94 percent from last week and increased by 20.62 percent from the same week last year.