The market definitely continues to transition.Still, the stats this month make a bit more sense.For housing, the number of homes sold increased, as did the number under contract.Neither number is a significant difference from July.Homes have been coming on the market at about the rate as the number selling. The days on the market is down; the list-to-sales ratio appears to be creeping down. The amount of inventory, then, has held steady, though at a quantity very much lower than the pre-COVID years.The price point for homes currently on the market certainly is not like the pre-COVID years:almost 3 times as many homes currently available are priced above $500K as below.Could this be the new norm?
Land sales stats are holding steady in the COVID and past COVID pattern: the number of land tracts on the market has crept down, the number sold is up, the number under contract is up, and the list-to-sales ratio is up, almost 10% higher than pre-COVID.
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