
Per VBR, new Listings were down 22.6 percent for the Single Family-Duplex category but increased 7.0 percent for the Townhouse-Condo category. Pending Sales decreased 14.6 percent for Single Family-Duplex but increased 14.9 percent for Townhouse-Condo. The Median Sales Price was up 93.8 percent to $2,510,000 for the Single FamilyDuplex category and 63.7 percent to $1,677,500 for the Townhouse-Condo category. Days on Market increased 57.9 percent for Single Family-Duplex homes and 35.9 percent for Townhouse-Condo properties. Prices have continued to increase this fall despite softening home sales nationwide, as a lack of inventory has kept the market competitive for prospective buyers, sparking bidding wars and causing homes to sell for above asking price in some areas. Heading into September there were only 1.1 million units available for sale, 0.9% fewer than a month ago and 14.1% fewer than the same period last year, according to NAR. As a result, the U.S. median existinghome sales price rose 3.9% year-over-year to $407,100, marking the third consecutive month that the median sales price topped $400,000.


