My Takeaways

Inventory is still low and will stay there for the forseeable future.  However, there is definitely more for buyers to chose from since the start of the pandemic.  The typical home now takes 35 days to sell rather than 8 days last year.  We are seeing few multiple offers and roughly half of all homes listed have a price reduction.  The average home price has dopped slightly from $333,100 to $319,600, however the median home price has stayed unchanged.  We are seeing Buyers being able to negotiate some repairs and Sellers begining to pay a small percentage towards closing costs.  The market has definitely shifted towards the buyer and is closer to what we were seeing just before the pandemic, but it is still firmly a Sellers Market.  What has not happened is a big drop in home prices, nor do we see it in the near future.