New Zillow's Weekly Market Report Shows Seasonal Cooling

by Victoria Haviland
November 2, 2020
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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

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by Victoria Haviland
November 2, 2020
Victoria has been writing about property portals and marketplace sites for Online Marketplaces for over 3 years. She is also our resident artist and is responsible for all of the infographic content on the site.

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