Inventory of homes is up just a bit, while the price tags appear to be coming down.
The Multiple Listing Service this past weekend listed 133 properties for sale, compared to 126 which were on the market a year ago. That’s an increase of 5.5%.
Pricing is showing a greater change. A year ago the average listing price was $2.31 million. This month, its $2.065 million, a drop of 11%. In January 2007, the median house price was $1.7 million, today it’s $1.5, 12% lower.