Market Pulse Q3 2023

Newsletters - 1 Minute Read

11/11/2023

Discover the latest trends in our real estate market! Inventory is climbing and prices are stabilizing, with a notable shift in buyer behavior leading to more frequent price adjustments. Sales numbers are returning to normal, reminiscent of the pre-2021 period. Curious about how your area fared in Q3 2023?

Check out our latest newsletter to find how the market performed in Q3 2023:

• Inventory is Climbing: As of September 2023, we had 1,054 residential properties listed, showing a promising recovery toward pre-pandemic levels. The year prior, there were only 826 residential listings.
• Prices Stabilizing: The median sale price of single-family properties in the primary market area was $1.6 million, marking less than a 1% increase from last year. Median prices for Condos were flat at $1.05 million, and median land prices increased 8% to $750,000
• Changed Buyer Behavior: Buyers are becoming more cautious, leading to more frequent price adjustments in listings.
• Sales Numbers Returning to Normal: The overall number of sales is down markedly compared to the super-heated years of 2021 and 2022 but compared to the "normal" period of 2013-2019, the numbers are only slightly lower.

Read the full newsletter to learn how your area of interest fared during the third quarter of 2023.

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