The market has shifted a bit over the past 4-5 weeks. We’re seeing many properties sit longer than in the previous year, with homes selling in 2-3 weeks instead of 2-3 days. As a result, there has been an increase in the number of price reductions and many of those price drops have been significant. We’ll need a little more time to see if this is an actual change in the market or just a pause due to the time of year, as late August/early September are generally slower due to people getting in their final summer vacations and kids heading off to school.
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Click HERE for detailed Real Estate Watch statistics.
Data summarized from – The Beacon Report