September Stats Highlights
The market continues to move fast, however, it is slower than it has been in the last six months.
- Months Supply of Inventory increased to 1.1, the highest level in one year, yet still historically very low.
- The percentage of closed sales selling for above list price was 46% in September, down from the peak of 63% in June and is at the lowest level since January 2017.
- More than 1/3 of the homes that were sold were on the market for over 15 days. That is the highest level in six months.
Based on normal seasonality, Buyers should try to buy this month or by the end of the year rather than waiting until January. Buyers should consider three things:
- Can you afford the monthly payments?
- Do you like the location you can afford?
- Are you going to live there a minimum of five years?