Active listings on October 1, 2024, saw a 47% increase from last year, reaching 19,643, and a 6.6% rise from last month. Listings under contract rose 9.1% in September and are 11.7% higher than this time last year, showing slow but steady progress. Despite sales volumes being low, there's a notable increase in homes under contract, signaling potential improvement in October closings.
Prices have remained stable, with the median sales price up 2.3% from last year. Supply continues to rise, giving buyers favorable negotiating power, but we expect this to shift by year-end as supply levels off.
The contract ratio is still balanced, but a slight increase signals improving conditions for sellers.