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