Market of the Moment - 7/23/2021

[Alan Walker]

Days on Market are up!……..to 4 days. Many people are asking if the market is shifting because we have a bit more inventory and less offers are being submitted on homes. While moving from 300 to 500 and now just above 400 active homes under $700,000 sounds like an increase and homes are “only” getting 3-5 offers instead of 10-15, it does not indicate a “slow-down” or “shift.” It's July people. Remember that whole year where no one could take a vacation? Sun's out guns out, not as many people are offering on homes. This is actually normal. Remember normal? Yea, me either.