LOCAL MARKET QUESTIONS
It provides a current view of asking prices, active inventory, buyer demand, days on market, price reductions, and other indicators that help explain the direction of the local housing market.
The underlying Altos Research report is updated weekly. Ravi’s commentary is reviewed as new data becomes available so buyers and sellers can see both the numbers and a practical interpretation.
The answer can change as inventory and demand move. Use the current Market Action Index, inventory, median market time, and price-reduction rate shown above to understand the present balance, then evaluate the specific property and price range.
Downtown-area homes, larger-lot properties, established neighborhoods, and newer subdivisions can attract different buyers and move at different speeds. Price point, condition, lot size, and exact location should be evaluated alongside the citywide report.
Use the citywide report as a starting point, not a property valuation. Buyers should compare price history, condition, and recent competition. Sellers should combine the report with current competing listings, comparable sales, and early showing feedback.
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Inventory is down 7.5% from the prior week, at 86 listings. The median list price is $2.17M, down 1% from the prior week. Altos reports a Market Action Index of 40, above last month’s 38 reading, and describes the market as “Slight Seller's Advantage.” Median market time is 56 days, while 33.7% of active listings have recorded a price decrease.
With 33.7% of active listings showing a price reduction and 86 homes for sale, buyers have room to compare condition, recent adjustments, and time on market. Focus negotiations on listings that have already tested an ambitious price rather than assuming every seller has the same urgency.
A 56-day median market time makes the launch period important. Price against the most comparable current competition, complete visible preparation before going live, and use the first two weeks of showing activity to decide whether the market is validating the strategy.