Market of the Moment - 8/13/2021

[Alan Walker]

The smoke is clearing and inventory is up. For Friday the 13th, I’m feeling pretty lucky! We’re above 500 available homes again with a nice bump in the lower price ranges. Our days on market is still very low, which tells me that the increase in inventory is getting snatched up by existing buyer demand quickly. While multiple offers are still happening, they are much more likely to be in the single digits. I overheard an agent say, “I don’t get it, we’ve been on the market 5 days and no offers yet” Gasp! The market must be shifting! No Mary, the market may be returning to some kind of normal. Don’t jump off a bridge just yet.