Over the last 30 days, sales in the Empire market remained at their current pace of six homes. However, the amount of pending transactions continued to improve, reaching a total of two during the same period. All indications show that the trend may be coming to an end, meaning less pending transactions over the next few weeks. Prices are falling in Empire, and this period the median price of all sales fell from $254,250 to $204,250.
Comments:

This week in the Empire market, sales rose to four homes sold over the last 30 days, even with an identifiable downward trend in price reductions, with two in the same time frame. All indications show that the trend may be coming to an end, meaning more price reductions over the next few weeks. Even as the number of sellers lowering their price trended lower, months of inventory continued to fall, hitting a three-month low at eight months. Even after uptick in sales, such a large amount of remaining inventory tells us that Empire is still a strong buyer's market.
Comments:

The Empire market slowed with a 50.0% sales drop in this week's report. However, overall sales numbers for the last 30 days remained above the monthly average (0.4) with one home sold. Potential buyers should note that prices are coming down in Empire, and for this period the median sales price slid from $320,000 to $290,000. Empire is a solid buyer's market, thanks to a big 22 months of inventory to choose from and a pullback in sales.
Comments:

Sales remained at two homes sold over the last 30 days in the Empire market. Sellers can expect more competition, due to a six-week upward trend in homes coming into the market, now up to eight for the same period. All indications show that the trend may be coming to an end, meaning less new listings over the next few weeks. While new listing numbers rose, prices dropped. This week's reported median sales price of $320,000 continued a four-week downward trend. With prices falling, the availability of 11 months of inventory means that Empire is a solid buyer's market.
Comments:

The number of sellers who put their homes up for sale in the Empire market over the last 30 days remained flat this week at nine. Home sales also remained unchanged from the prior period and once again two homes were sold. Potential buyers should note that prices went up in Empire, with the median for this period rising from $295,000 to $320,000. With no movement in sales and the availability of 11 months of inventory, Empire is a solid buyer's market.
Comments:

Fewer sellers put their homes up for sale in the Empire market over the last 30 days and the number of new listings fell this week to seven. Home sales remained unchanged from the prior period and once again two homes were sold. The median sales price in Empire stayed put this week at $295,000. Along with flat sales, a relatively high nine months of inventory indicates that Empire is a solid buyer's market.
Comments:

The Empire market will be more selective in the short term. Sales have dropped this week to one home sold over the last 30 days, and there is also a confirmed upward trend of new listings, with nine going live in the same time frame. The median sales price dropped to $240,000, down from last week's $255,000. With decreasing sales and the availability of 18 months of inventory, Empire is a solid buyer's market.
Comments:

The number of homes coming into the Empire market climbed to eight listings over the last 30 days, while sales remained right where they were as once again three homes were sold over the same period. The median sales price in Empire stayed put this week at $255,000.
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Over the last 30 days, the Empire market looked active with three homes sold, a 50.0% increase from last week's report. Prices are falling in Empire, and this period the median price of all sales fell from $260,000 to $255,000.
Comments:

Sales in the Empire market dropped to two homes sold over the last 30 days, while the number of sellers reducing their list prices reached three, which continues a new upward trend in price reductions. The median sales price dropped to $260,000, down from last week's $265,000. Along with the slip in sales, a relatively high eight months of inventory indicates that Empire is a strong buyer's market.
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