Landrum’s rolling three-month snapshot shows a leaner pool of homes for sale than a year ago, with active listings down and only 43 on the market. Even with fewer options, contract activity has picked up recently, as pending sales rose compared with last year while new listings declined. Homes are taking much longer to go under contract, with the median days on market now around three months.
Prices are adjusting to these changing conditions. The typical home value over the latest three-month period has fallen by double digits year over year, and the median list price is also down compared with a year ago. Despite those declines, the average sale-to-list ratio has ticked slightly higher than last year, and a small share of homes are still selling above the asking price.
Supply and demand appear more balanced than in past years, with months of supply up from a year ago but still under four months, which aligns with Landrum’s seller’s market designation. Fewer sales and fewer new listings than last year point to a slower pace overall, yet the recent jump in pending sales suggests motivated buyers are still active when they find the right home. In this kind of mixed market, both buyers and sellers can benefit from Agent Pronto’s help connecting with a local agent who understands Landrum’s trends and pricing dynamics.
