Contracts Low in Circle Area Real Estate Market

A dip in the number of pending transactions in the Circle Area market over the last 30 days has resulted in the lowest amount since January. However, while 10 homes went under contract, there were 18 completed sales, extending a six-week upward trend. In comparison, the Downtown neighborhood had 44 contracts executed in the same time frame, the most of all close-by neighborhoods. Furthermore, a nine-week downward trend in new listings is expected to continue over the coming weeks. Potential buyers should note that prices are coming down in Circle Area, and for this period the median sales price slid from $465,000 to $431,500. The rising sales and a low three months of inventory point to Circle Area being a seller's market.

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Data reported through 10/12/2016

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