(HAR Report): The time it took to sell a home fell by about three weeks compared to September 2020. Days on Market (DOM) went from 51 to 29. Due to strong buyer demand and steady home sales, inventory registered a 1.8-months supply compared to 2.4 months a year earlier. That level is the highest of 2021, but below the current national inventory of 2.6 months recently reported by NAR.
Broken out by housing segment, September sales performed as follows:
$1 - $99,999: decreased 32.3 percent
$100,000 - $149,999: decreased 36.9 percent
$150,000 - $249,999: decreased 31.7 percent
$250,000 - $499,999: increased 27.4 percent
$500,000 - $999,999: increased 28.3 percent
$1M and above: increased 34.6 percent
HAR also breaks out sales figures for existing single-family homes. Existing home sales totaled 7,948 in September. That is up 8.7 percent from the same month last year. The average sales price rose 12.8 percent to $368,253 while the median sales price climbed 15.7 percent to $295,000.