Average selling prices for the five configurations of homes we track (which make up approx 60% of all home sales) continue to be at historic highs with only one exception:
*includes condos, co-ops and TICs
Year over year, the total number of sales fell by 6%; single family homes were down by 3% and condos were down by 7%.
As typical after Labor Day, inventory increased month over month by over 5% while single family homes were down by 10% but condos were up 15%. The largest inventory increase in our record keeping was back in 2010 when a total of 1,229 single family homes and condos were added to the market. This year that inventory increase was 665. During the intervening years the increases were in the 400s to 500s range.
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