Inventory in Knollwood has tightened over the past year, with active listings down more than 30 percent in this rolling three-month view even after a recent month-to-month uptick. Fewer homes are being brought to market, as new listings have fallen nearly 40 percent year over year. Contract activity has cooled as well, with homes sold and pending sales both down roughly a third compared with a year ago, showing a slower flow of deals despite limited supply.
Prices have moved upward over the past year even as the number of transactions has fallen. The typical home value is up more than 20 percent year over year in this rolling three-month period, while the median list price is slightly lower than a year ago, suggesting sellers are pricing more cautiously but buyers are still bidding higher on desirable homes.
Time on market has stretched compared with last year, with the median days on market up about two weeks, yet roughly 59 percent of listings are still going under contract within two weeks, highlighting a split between quickly moving and slower-moving properties. Months of supply has risen to about 1.8, but conditions still favor sellers, with an average sale-to-list ratio above 102 percent and more than 40 percent of homes closing above asking. Buyers navigating these mixed signals and sellers aiming to capitalize on strong pricing can both benefit from Agent Pronto’s help in finding a Knollwood agent who understands the current dynamics.
