📅October 9th Real Estate Market Update Listed: 235 homes Compared with the same week last year (Oct 9, 2024): Yet, prices are still rising, Some prime listings are even “holding firm amid the chill,” While total supply has increased, At the same time, as fewer lower-end homes sell,
Sold: 79 homes
➡️ Sales-to-New-Listings Ratio = 33.6%
152 ÷ 270 = 56.3%
📉 Down 22.7% year-over-year. This means market activity has slowed, giving buyers more leverage.
reflecting strong seller sentiment —
many homeowners prefer to sell fewer properties than cut prices.
hoping for better offers after potential rate cuts later this year or next.
the composition has shifted — fewer low-priced listings, more high-end ones.
Buyers know there’s room to negotiate,
but when a quality home is priced right,
💥 they act fast.
and more high-value properties trade hands,
the average price is being pulled upward.
This “price increase” isn’t a true market rebound —
it’s a classic “structural shift effect” where
average prices rise simply because the mix of sales skews higher.
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