Listing prices appear to be stabilizing. Time to sell is definitely still on the rise. When you look at the percentage comparisons, there’s another story. Median listing prices are $25,000 from two years ago, which equates to about a 3% drop. Then, you look at the median number of days a listing has been on the market, and you see that its a 15-fold increase, from 10 days to 160. What does that say?
The number of listings being absorbed (sold or taken off the market) is down, way down.
I tend to post mostly positive news about the market, which means that I’ve been pretty quiet lately. I’d like to make some comments about what’s going on, but this two year history is pretty telling and pretty much says it for itself.
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