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The active listing inventory over the past couple of weeks decreased by 211 homes (-4%) and now stands at 5,624, its largest decline of the year and the lowest level since April.
Last year: 4,844 homes on the market (14% fewer). 3-Year Pre-COVID Average (2017–2019): 6,841 homes (22% higher).
From January through September, 26% fewer homes came on the market compared to the 3-year pre-COVID average (-11,175). Yet 3,660 more sellers listed this year than last, and 9,000 more than in 2023.
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Buyer demand, measured by pending sales over the past month, fell from 1,779 to 1,776 (down 3; essentially unchanged).
Last year: 1,762 pending sales (~1% lower than today). 3-Year Pre-COVID Average: 2,755 pending sales (55% higher).
With supply falling and demand relatively unchanged, the Expected Market Time decreased from 98 to 95 days in the past couple of weeks — the strongest reading since May.
Last year: 82 days (faster). 3-Year Pre-COVID Average: 76 days (significantly faster).
Speed of Market shows how fast homes are selling based on current supply and demand.
Example: 6,000 homes on the market ÷ 2,000 in escrow