As you can see from the above graph the market has started to simmer after we just experienced the sharpest and quickest price increase in the last 25 years! Although it looks drastic sales have just adjusted to a more normal level and although it appears we are seeing downward pressure on pricing, many of the homes selling under list price were optimistically priced in the first place!
The big question now is were the market will settle in the coming few months! The most educated local economists are predicting a return to a steady normal market!