Two Price Points and Two Different Storylines
$500,000-$1 Million July 2023 was a Seller's market*
While the graphic shows inventory levels on the rise in July (up by over 21% from June), the market remains a seller's market with 2.3 months of inventory. Much of this seems to be contributed to strong buyer demand in the 500,000 to $1 Million dollar price range.
$1-2 Million August 2023 was a Neutral market*
While inventory was down 13.6% from just a month ago, there is currently 3.2 months of inventory which indicates a neutral market. The seller experience is likely to take a little longer to sell and properties have to be priced appropriately and be presented well.