We’ll keep you up to date on any new developments.
Today, let’s take a closer look at the market conditions for September. As we return to review the past month, several noteworthy changes have emerged.
Firstly, we observed a slight increase in inventory across different property types. The inventory for single-family homes has risen to approximately 4,347 properties. Condos also experienced an uptick, with 672 listings, while townhomes increased to 479.
“Sharing an important update on the latest market trends and changes.”
However, the notable change comes in the form of sales figures. In comparison to the previous month’s total of around 2,200, the number of sales has decreased. This month, for single-family homes, we recorded only 825 sales, 310 condo sales, and 244 townhome sales. This shift indicates a decline in both sales and inventory.
What does this mean for the market? Typically, when supply starts to outpace demand, it exerts downward pressure on prices. So, as we enter the final quarter, we will be closely monitoring whether these trends translate into price adjustments for properties currently on the market.
If you have specific questions about properties or need guidance on preparing your home for the market, please don’t hesitate to reach out to me at (702) 845-8540. Your questions are always welcome.
