Days on Market is continues to rise, which means homes are taking longer and longer to sell. 75 days to sell a home was unheard of more than 6 months ago.
Supply of homes were increasing significantly, but it seems to be decreasing in the current month. This can be an early sign of stabilization, but it can also mean sellers are taking their homes off-market once they realize buyers have no interest.
Overall, trends are negative, but there is early signs of stabilization. Listing prices are stabilizing and supply is declining.
I will provide another update on Downtown condos soon.
LA LOFT SPOTLIGHT l Rowan #104
