Inventory continues to climb at a steady clip, eclipsing the 80 mark for the first time in years. Homes are still closing at a modest 3-5% over asking, and at $864 our price/SF numbers are still very strong.
With 4th of July weekend nearly upon us, listing agents are likely working hard to get into contract before they are forced to wade through a notoriously slow weekend for open houses. By the time of our next update (which I'll post on Tuesday the 5th of July), I expect inventory will have dropped off slightly, as we should see more properties go into contract than are newly listed this week. Agents will typically advise their clients not to list their home the week of a major holiday.
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