"The market is showing signs of softening. Sellers remain bullish about the market and the value of their homes while buyers are discovering they have more leverage with fewer competitive situations” reports Leading Edge CEO, Linda O’Koniewski. “It’s as if a light switch turned off after Labor Day. Properties are staying on the market longer. Sellers should listen to what the market is saying, but they don’t want to hear that they should price their homes more competitively. Buyers suffering from fatigue should jump back in before interest rates jump higher and put their dream home out of reach.”
September sales of single-family homes in the Leading Edge service area decreased -17.2% year-over-year. Inventory remains down -11.4%. The number of days on market is also down -16.2% while median sale prices remain up +6.3% at $600,500.