, the months of available inventory crossed the three-month mark for the first time since the pandemic. For comparison, in June 2023, the metro had 1.25 months of inventory.
“Homes are simply spending more time on the market and experiencing more price reductions before finding a buyer,” saidThe median close price dropped to $576,171, 2.3% from $590,000 in August and down 2% from $585,000 in September 2023. New listings increased by 11% over August and 22% from September 2023. Pending home sales increased by 5% from August and 38% from September 2023. The median time homes spent on the market decreased by one day from 26 to 25.
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