Sterling currently leans toward sellers, with a market gauge reading of 18 indicating clear seller-side leverage. Months of supply sit at 2.2 in this rolling three-month view, which is still below the level that would signal a balanced market. Homes also tend to move quickly, spending a median of 22 days on the market.
Prices are holding firm, with the typical home value around $550,445 and essentially flat compared with a year ago. Sellers are still seeing strong demand, as about 67.9 percent of homes sold above list price and the average sale-to-list ratio is slightly over 101 percent.
Inventory and activity have shifted in interesting ways year over year. Active listings have inched up compared with last year, and new listings over this rolling three-month period are up more than 20 percent, yet homes sold and pending sales are down from a year ago, showing that buyers may be a bit more selective. Supply has loosened compared with last year, with months of supply rising by roughly one-third, but conditions still favor sellers because homes continue to sell quickly and often above asking. In this kind of nuanced market, Agent Pronto can help both buyers and sellers find an agent who understands these trends and can guide each side through successful decisions.
