Mohawk is currently tilted toward sellers, with the market gauge reading in seller’s territory. Months of supply has climbed to 4, suggesting more balance than in the past. Even so, just 10 active listings over the latest rolling three-month period keeps options limited for buyers.
Home values have moved higher over the past year in this rolling three-month view. The typical home value is up about 24% year over year, and the median list price has risen at a similar pace. At the same time, homes are not flying off the market as quickly as in some past periods, with a median of 30 days on market, compared with just 7 days in the same period last year.
Sales activity has cooled notably, with homes sold down more than 60% and new listings falling by a similar share compared with a year ago, which helps explain the low inventory and seller-favored conditions. Months of supply has roughly doubled from about 2 a year earlier, showing that buyers have a bit more breathing room even as the average sale-to-list ratio holds right around 100%, indicating sellers are still achieving close to asking prices. With these mixed signals of rising prices, slower sales, and shifting inventory, both buyers and sellers in Mohawk can benefit from Agent Pronto’s help in finding an agent who understands the local numbers and nuances.
