(HAR report)Days on Market (DOM), or the number of days it took the average home to sell, was 55 compared to 53 a year ago. Inventory expanded to a 4.1-months supply. That is up from 4.0 months year-over-year and is just below the 2019 peak of 4.3 months reached in June and July. It matches the national inventory of 4.1 months reported by NAR.
Broken out by housing segment, September sales performed as follows:
$1 - $99,999: decreased 9.7 percent
$100,000 - $149,999: decreased 14.6 percent
$150,000 - $249,999: increased 4.6 percent
$250,000 - $499,999: increased 18.7 percent
$500,000 - $749,999: increased 12.6 percent
$750,000 and above: decreased 2.6 percent
HAR also breaks out sales activity for just existing single-family homes. Existing home sales totaled 5,742 in September. That is up 8.0 percent versus the same month last year. The average sales price rose 3.3 percent to $286,784 while the median sales price increased 5.0 percent to $230,000.