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2023 saw significant growth in housing inventory and moderation in pricing. More recently, while sales activity is down about 10% year-over-year and inventory is up about 15%, average pricing has mostly been insulated - up 1% over the same time frame. The recent market shift has created more buyer-friendly, balanced market conditions not seen since the fall of 2020. Looking forward, any moderation in interest rates may restore consumer confidence and swing the pendulum back in favor of sellers.
2023 Total Sales
Average Sales Price - March 2024
Months of Inventory - March 2024
