Compared to last year, there are 25% more sellers not willing to get realistic about the value of their home. It’s fine, as long as they don’t mind waiting for all the other better buys to clear out – and it might be a loonnnggggg wait.
The median days on market for the 484 unsold listings is 45 days now (average is 58 days on the market). The existing inventory is so picked over, that virtually none of the listings that have been on the market for more than two weeks (which is 77% of the total number of actives) have a chance of selling unless they radically change their price.
It is such a great time for hot new listings to hit the open market though. Of the 156 pendings, 39% of them found their buyer in the first two weeks on the market! There are deals to be done!
