Much has been said about a slowing market.  I think a better characterization would be a more competitive market.  For the year sales are up 1.8% over last year but there are definitely differences in how the market feels this year compared to the last few years.  Rising inventory gives the buyers a little more power.  When there are just a few homes on the market the decision becomes binary; “should be buy it or not”. With more to choose from it’s easier for a buyer to to see 10 listings eliminate 7 from the running and then choose among the top three. Sellers need to realize that if their property isn’t competitive on price and condition it is realistic that their house won’t make the cut every time.

• Sales in August decreased by 2.8% compared to last year.
• YTD sales are up by 1.8%
• Price reductions continue to be very high.
• Inventory is at the the high point for any August since 2014.

Take a look at the slideshow below for more detail.