The only stats that went up this week were multiple offers and properties that came back on the market because the buyer backed out during a contingency period. Nationally, one in five sellers is dropping their price. Last week saw the biggest number of price reductions in our market since July 2022 and this week is pretty close to the same.
Showing activity was updated through June 23rd this week, holding pretty steady with last year.
I find it interesting how close the contours of new listings are to last year. It will be interesting how deep the drop is over the July 4th holiday this year.
If you are thinking of selling this year, be careful not to price based on past years. A lot of sellers are setting list price too high today, leading to more price cuts… more about it in the infographic below from our blog at Keeping Current Matters.
Sharlene Hensrud, RE/MAX Results – shensrud@homesmsp.com
