Buyer activity isn't what it was this time last year, as is evident in the higher average days on the market. This week, 3 of the 6 closed sales were on the market for 50 days or longer. Our sales prices and price/SF numbers have yet to show any real signs of pullback, but buyers have definitely been able to become more patient in their search for a home. Increased inventory has alleviated the strong sense of urgency that so many buyers felt this time last year. Though inventory has dropped a bit over the past month, it's still close to 50% greater than it was in August of last year.
Side Note: Among last week's closed sales was our listing at 1922 Cordilleras - an extensively remodeled 3BD/2.5BA built along Cordilleras Creek. This 1,820 S/F home sold for $1,750,000 ($961 per square foot) - www.1922Cordilleras.com
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