New Zillow's Weekly Market Report Shows Seasonal Cooling

We’ve kept up with the housing market numbers since the beginning of summer, where demand was unusually high and inventory has been unusually low. 

A new report by Zillow has shown that the market is showing signs of cooling down, stabilizing asking price up 11.7% year-over-year. 

Highlights from this week’s report include:

• Newly pending sales up by 19.3%, 1.5% slower than the week prior
• Weekly pending numbers are up to last April and July standards
• Houses are on the market for a median of 12 days, 17 days faster year-over-year
• New listings down 3.7% year-over-year and 7.1% from the week prior
• Sales prices hit new record high
• Median list prices hold steadily at $346,080
• List prices are up 2.8% above 2019 the week of Feb. 1, up to 11.7% year-over-year for this week
• Median sale price was $288,225 in the week ending Sept. 12, up 11.4% year-over-year and up 0.2% week-over-week