"Homes sales for the month of September took a tumble from last year down 14.7%, with a drop in existing and new construction home sales. Although there was a steep decline in home sales, the average price increased by 5.4% while the median price increased by 1.85%.
Days on Market and Cumulative days on market both increased to 54 for DOM and 62 for CDOM. The month’s supply of inventory grew to 5.74 months. We typically see an increase in the supply of housing during the month of September, so this isn’t usual for this time of year.
One positive note for September is that pending listing (listings that went under contract) remained even with September of 2016, which will hopefully lead into a stronger 4th quarter after a weaker 3rd quarter for 2017". - Brian Toohey, CEO Columbia Board of Realtors.
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