Weekly Market Report: Week Ending March 10, 2024

Written By K Signings LLC

  • New listings have had a slight decline since last week, but are still up from this time last year. New listings are down 1.1% from two weeks ago; however, they are up over 7% compared to this time last year. This overall increase is a welcome sign for buyers entering the spring market.

  • Median list price slightly below record high. List price continues to track above last year’s levels, with this week’s median list price exceeding last year’s by 0.6%.

  • New contracts just still below last year’s level. Higher mortgage rates have kept some buyers on the sidelines. The average rate on a 30-yr mortgage recently edged back towards the 7% mark, sitting at 6.88% as of the week of March 10. As rates fall this spring, buyer activity is expected to increase.

This Week

  • Showings: 14,190

  • New Purchase Contracts: 846

  • Median Time to Contract: 19 days

  • New Listings: 798

  • Median List Price: $362,250

K Signings LLC https://www.ksigningsllc.com/
Previous

Weekly Market Report: Week Ending March 17, 2024
Next

Weekly Market Report: Week Ending February 25, 2024