Sales have slowed as we head into fall. We are still seeing houses sell quickly but the median sales price has gone down as well.
This could be due to an interesting convergence we are seeing in our market. We are seeing more expensive house remain on the market which often results in owners reducing the cost of their house to sell. On the other end of the market, cheaper housing is in demand and we are seeing a lot of competition.
To summarize, the slow sales on the high end of the market could contribute to the decline in the median sales price. I still believe it is a good time to list your house. Houses are still moving quickly meaning there are still buyers waiting for more inventory.
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