Sales up, Prices down

The latest NAR home sales stats were released. They validated what we have been feeling in our local market.
More homes (condos, houses) are being sold. The sold price of these homes are down.

Buyers are feeling this in our area as well (low) priced properties are coming on the market. They are recieving multiple offers, and sometimes are selling for over the list price. We know first hand that sales are increasing - probably because sellers are becoming more savvy and are pricing lower to match the market demand.

Whether you are buying or selling, or just curious about the market - this is good news.