Listing and contract activity in North Great River has cooled in this rolling three-month view. Active listings are down sharply year over year, dropping about two-thirds to just 5 homes, while new listings have fallen nearly 70 percent. Even with fewer options, homes are still changing hands, with closed sales up more than 50 percent compared with a year ago.
Pricing is adjusting as these tight conditions play out. The typical home value over the past three months is about $668,000, which is more than 20 percent lower than a year ago, even as the median list price has climbed more than 15 percent. Homes are taking a bit longer to sell than last year, with median days on market moving from around two weeks to just over three.
Competition among active buyers remains intense despite the slower pace of new listings. Months of supply is very low at just 1.1, reinforcing the current seller’s market, and every home that sold in this period closed above its list price, with sale-to-list ratios averaging above 108 percent. With inventory shifting, prices sending mixed signals, and bidding pressure still evident, both buyers and sellers can benefit from Agent Pronto’s help in finding a local agent who understands the North Great River market.
