The old rule of thumb for the market is that about 4-6 months inventory is a healthy neutral market. Less than less than 4 months favors sellers and more than 6 favors buyers. With about 3 months active inventory we remain firmly in a sellers market. The number of buyers however is not enough to produced extreme price pressure. We are seeing healthy and modest price appreciation. Overpriced listings or homes that need a lot of work are sitting for more than 2 months, while well priced homes tend to sell in less than a month.
This is truly a nice, steady, and healthy real estate market. Rates are settling down a bit and if the economy perks up a little in the upcoming year wages may outpace real estate pricing and make things a little more affordable.
I am seeing 1990s homes in decent shape selling for the low to mid 400s with 3-4 beds and sometimes north of 2000 SF. You won't find a perfect, fully remodeled home in this range but something that is move in ready but a bit dated, you sure can.
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