Mulliken currently sits in a neutral market, with conditions not strongly favoring either side. The rolling three-month view shows a market gauge reading right in the middle. Both buyers and sellers are having to adjust expectations as prices and activity shift.
Home values have pulled back over the past year, with the typical home value down sharply compared with the same period last year, while the median list price is slightly higher year over year. This gap suggests sellers are aiming higher even as closed sale prices trend lower. Inventory has grown looser, with months of supply surging more than threefold year over year to 9.6 months, and median days on market rising to 45 days, indicating homes are taking longer to sell.
Sales activity has cooled notably in this rolling three-month period, as homes sold are down by about half and pending sales have fallen even more compared with last year. New listings are also down significantly year over year, so fewer properties are coming on the market even as those that do tend to sit longer. Almost no recent sales have closed above list price and the average sale-to-list ratio sits right around 100 percent, pointing to buyers having room to negotiate while sellers still secure near-asking offers. In this kind of shifting, neutral environment, both buyers and sellers can benefit from Agent Pronto’s help in finding the right local real estate agent to guide each step.
