We are sitting on 1.2 Months of Inventory for October 2021. That is derived from a faster pace of closings (467 vs 450) and fewer homes in the market (665 vs. 778) when compared to October 2020. Average days on the market fell to 58 days (from 74 in 10/2020). Median Sold Price has stabilized around $210k in the last several months (compared to ~$195k in the same period last year). Average Sold Price is up ~$20K YoY (or $110/sf versus $100/sf.)
We will destroy prior records on new-home building permits by year end. Through late October the city had issued over 2000 Single Family permits. Recall that 2020 set the record with 1826, crushing the 2019 number of 1329.
Our Mover’s Moving Index stayed strong into the early autumn, with a 191 posting.