Market Trends: 3411 92008 — August 2022
Key Metrics at a Glance
| Metric | Value | Trend |
|---|---|---|
| Median Sale Price (0-3 Mo) | $1,849,000 | Stable |
| Median $/SF (0-3 Mo) | $698.06 | Declining |
| 12-Mo Linear $/SF Change | +24.43% | Positive |
| Months of Inventory | 2.1 | Tight supply |
| Median Days on Market | 28 | Worsening |
| SP/LP Ratio | 101.0% | Slight softening |
| Sales Volume Change (Qtr) | -1.0% | Stable |
| Anticipated Marketing Time | 30-60 days | Active market |
Analysis
The data reveals broadly consistent movement between overall prices and per-square-foot metrics. This consistency suggests the market is moving uniformly across property size segments without significant compositional shifts in the sales mix.
On the supply side, 2.1 months of inventory reflects tight supply conditions in the market. Increasing days on market indicates properties are taking longer to sell, suggesting buyer caution or overpricing. The declining SP/LP ratio further confirms that sellers are accepting greater concessions from asking prices.
In summary, the market is best characterized as competitive with strong seller positioning. The anticipated marketing time of 30-60 days reflects current absorption rates. The negative 6-month linear trend in $/SF warrants monitoring as it may indicate continued near-term softening.
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