HAR Report: Active listings climbed by 28.1 percent year-over-year, with 30,617 single-family homes available for sale in September. The average days on market increased from 45 to 51, reflecting a slower pace of sales.
Months of inventory of single-family homes expanded from a 3.4-months supply last September to 4.4 months, which is the highest since September 2012 when there was a 4.7-months supply. Housing inventory nationally stands at a 4.2-months supply, according to the latest report from the National Association of Realtors (NAR). A 4.0- to 6.0-months supply is generally considered a “balanced market” in which neither buyer nor seller has an advantage.
Broken out by housing segment, September sales performed as follows:
$1 - $99,999: increased 3.5 percent
$100,000 - $149,999: decreased 23.4 percent
$150,000 - $249,999: decreased 0.3 percent
$250,000 - $499,999: increased 4.2 percent
$500,000 - $999,999: decreased 3.6 percent
$1M and above: increased 2.0 percent
HAR also breaks out sales figures for existing single-family homes. In September, existing home sales totaled 4,873, which is down 0.7 percent compared to the same time last year. The average price rose 3.0 percent year-over-year to $429,787, and the median sales price increased 3.1 percent to $335,000.