“Throughout this year, the pullback in new listings have countered the low sales and averted any significant price declines. Keep an eye on new listings as the year-over-year gap has narrowed. A month ago,new listings were down nearly -13%. Today, the difference has shrunk to only -5.7%.”
–September 1-14, 2015 market update
Eight homes sold for $1M+ in the first two days of the month, twelve month-to-date. Not as good as last year, but an improvement from September when only three luxury homes sold during the first week.
According to the Sales-to-new-listings ratio, Attached (38.34%) and Apartments (35.58%) are in a buyer’s market, leaving Detached (45.86%) as the only segment still in balanced territory.
This time last year, Apartments were in balanced market conditions (46.41%), while Attached (65.99%) and Detached (83.5%) were in a seller’s market.
Month-to-date, only 7.3% of homes sold for list price or above compared to 16.5% during the same period a year ago.