March 2024

Everyone has been asking about “that settlement,” so we think covering it in this week’s market update is essential. They’re asking about the proposed settlement between the National Association of Realtors (NAR) and home sellers. Once the court approves the settlement – likely in June or July – the way homes are bought and sold throughout the country will change. Let’s dive into that in this week’s Market Update.

Detached homes are selling faster than they have been, but attached homes are taking longer to sell due to the increase in condo inventory. Rising inventory gives buyers more to choose from and puts pressure on sellers to price right.  Our local market in February: Residential – Detached and Attached Homes Average Closed Price: $676,575+3.27% month-over-month+3.04%