This graph says it all for this market. Hard for prices to go down, or adjust at all, without inventory. The market is looking for declining prices but with inventory this tight that just can’t happen. This is basically the lowest inventory we have seen in 20+ years. This market likely will not see any market wide price movement until early summer after we see increased inventory from the normal spring listing push. Although my prediction is our market will not see the price reductions buyers are hoping for.
The current number of active listings is 315 – Includes Single Family, Condo/Townhomes and Dirt.