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Weekly housing trends – Total inventory was down 31% as more and more buyers continue to take advantage of low mortgage rates and put a dent in inventory. Median listing prices continue growing at 6.2% over last year, faster than the pr-COVID pace. Time on market is 3 days slower than last year with the limited number of homes for sale forcing buyers to make faster decisions than they did pre-COVID. I’m seeing this all over RI as I engage in representing both sellers and buyers. The market continues to pick up speed due to the surge in buyers fueled by a lack of inventory state wide. Now is a great time to sell in RI!
