The three sectors of the Residential housing market, Condominiums, Townhouses and Single Family are all headed to a more balanced market situation based on the months of inventory measurement. Single family values based on average selling prices comparing August 2021 to August 2022 have declined approximately 3%. As stated last month if you compare average prices today from four months ago prices in the Single Family market are down approximately 5%. The Condominium and Townhouse markets are still priced above where they were a year ago, based on average selling prices.  These segments while heading to a more balanced market based on months of inventory are still favoring the sellers slightly.

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