"Connecticut, New Hampshire and New York single-family homes are selling in 51 days compared to 77 days nationally, even as median list prices reach $605,000, a $170,000 premium over the national median of $435,000. The data from the week ending Nov. 1 reveals a market where 36% of active listings have taken price cuts, yet inventory remains constrained at 1.81 months of supply. The tri-state region's median days on market of 51 days outpaces the national figure of 77 days."
"With 28,214 active single-family listings across the three states and 3,410 homes absorbed during the week, the market continues to favor sellers despite widespread price adjustments. The tri-state area maintains just 1.81 months of supply, below the national level of 2.90 months and slightly above the state median of 1.59 months. Active inventory totaled 28,214 single-family homes, with 3,410 properties absorbed during the week."
Median days on market in Connecticut, New Hampshire and New York are 51 days versus 77 days nationally. Median list price in the tri-state region is $605,000, $170,000 above the national median of $435,000. Active inventory totals 28,214 single-family homes, with 3,410 properties absorbed during the week, yielding 1.81 months of supply compared with 2.90 months nationally. Price per square foot is $297.11 versus $213.14 nationally. Price reductions affected 36.03% of active listings while 1.08% increased prices. The relisting rate is 6.88%, indicating most properties sell on first listing.
Read at www.housingwire.com
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