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.
"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."
Read at www.housingwire.com
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