What did we see this week?  Well if you look below, you will see we had 1,518 under contract listing with only 1,008 new listings.  On top of that, we saw 704 price decreased listings.  Supply is still very short, but…  We saw a number of listings with price reductions actually attract multiple offers.  This proves to us, we have a very strong market, but unrealistic pricing may be increasing days on market.  Buyers are smart and well armed.  Few are going to pay above market unless all conditions are right.

Also, back on market listings reflect the buyers’ intense inspection process and sellers not complying with the results.  Fix it now or fix it later.  The market is smart!