When I look back at the graphs for the last several months there has been a clear leveling out. Median prices have hovered between $320-325k, whereas there had been a steep incline since early 2020 prior to that. The number of homes sold have remained higher than usual during the fall months, with just a slight decline from the summer activity. Most notably, and once again highlighting our shortage of inventory compared to demand, Days on Market has remained in the narrow range of 5 to 7 days for the entire year! This is exactly what we want to see: a steady calming of the hysteria with no steep drops. If you’re thinking of making a move in 2022, it’s never too early to start strategizing. Let’s chat!
Market Snapshot: October 2021