Fall is on it’s way. The colors are just starting to change and so is the market.
Here is a quick look at the big picture in our MLS:
Homes for sale   Inline image 6   Down by a little under 3%. Less sellers jumping into the market. That’s normal for this season
Under contract  Inline image 9  Up by over 12%. That is a sizable increase from last year. Low rates are helping drive buyers to write contracts.
 
Sold last month   Inline image 6   Down by over 7%.  This is the 7 month out of 8 with lower closed sales from last year.
 
Sold in last 12 months Inline image 6   Down by almost 5%. The late spring carried closed sales down for several months.
Average Sold Price  Inline image 9  Up by a little over 1%  The prices are still increasing despite lower sales units.
 
With the seasonal change will come some very predictable market changes. 
  • Inventory will actually go down a bit. Less sellers will be putting their homes on the market.
  • Showings will be reduced. Schools back in session and people are already looking at the Holidays.
  • The number of homes that go under contract will go down. They will hit their low in December and then begin to climb.
  • The number of closed homes will also go down. Closing generally hit their low point in January and February then skyrocket from there.
The Hot Stats will give you a little peek at the details.