As the Market Shifts

Here's a snapshot of where we are right about now. What does it tell us?  That our metro area housing market has shifted to one with more realistic list and sold prices. The market has stabilized and we can see that with these numbers. Although prices are heading up they're doing so at a more normal pace.

As we end Q1'2024, and go forward, we have reason to be hopeful for a continued shift in course towards a more balanced market. One where buyers and sellers would each have opportunity for "win win" transactions. If such a situation occurs, sellers should not need to cut prices as much as they did last year, and buyers will have more properties to consider at more reasonable prices. A scenario that would be beneficial to both buyers and sellers.

The chart below is demonstrative of this shift. Of these 30 cities with active listings, 66% of them have list prices that have remained the same as opposed to having had a price reduction.