Fall inventory surges are typical of the Peninsula real estate market, punctuated by a holiday season that completely dries up any inventory that had accrued. It was right around this time last year that our # of homes for sale started to fall dramatically. Since the holiday season is generally regarded as a poor time to list your home for sale strategically (lots of dead open house weekends), we don't see too many new listings from late November through the new year. So as buyers snatch up what is still on the market, inventory generally drops until the market picks back up late-winter to Spring. That being said, with Thanksgiving just a week and a half away, we have yet to see inventory dip below 80. 50% of single-family homes for sale in RWC have been on the market 30 days or longer, with our total average days on market up to 42 now. I would expect to see a chunk of this older inventory clear out over the next few weeks, as the homes sell, or sellers decide to pull them off the market and relist in the spring.
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