Supply may be steadily increasing, but list prices continue to rise throughout most of the area. The median list price was $415,000 for the week ending September 1, which is 5.1% greater than the same week in 2023. Fewer sellers are dropping their asking price as we head into September, which suggests sellers still feel like they have the upper hand.
There were 5,429 new listings in the area this week, which is basically unchanged from the number of new listings last week and is 4.3% greater than the same week last year. New listings have added to existing supply for the majority of this year, giving potential buyers more options than they had in 2023.
There were 5,702 new pending contracts. The number of new contracts was up 3.2% compared to the same week a year ago. Throughout 2024, the number of new contracts has been very similar to 2023 activity.
