Pending This Week:
Pending home sales for last week totaled 151, indicating a slight increase from the previous week. Compared to the same period last year, there was about a 25% fewer pending sales. Of the 151 sales last week, 49 were new construction homes, and 102 were resale homes.
Median Listing Price:
The median listing price last week was $535,000. While there is fluctuation to this number week-to-week, you can see there’s been a rising trend since the beginning of the year.
Homes for Sale:
Last week, the total number of homes available for sale was 870, slightly lower than the previous week’s count of 891. The inventory consisted of 241 completed new construction homes (a decrease from 250), 131 homes under construction (a decrease from 144), and 498 resale homes (an increase from 497).
The overall inventory rate saw a slight decrease to 1.3 months. The inventory rate for new construction homes remained steady at 1.8 months, while the rate for resale homes dropped slightly to 1.1 months.
Mortgage rates have continued to trend downwards for the last 4 weeks.
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