For a seller, it means a correctly priced home in good condition should draw real interest without needing to be given away, though it does not excuse overpricing, since 12.3 percent more new listings than a year ago give buyers somewhat more to compare against. For a buyer, it means moving decisively on a well-priced home rather than waiting, since tight supply favours whoever is ready to act.
Neither side benefits from treating the citywide number as their own number. A starter home near $444,700 and a higher-end property behave differently even in the same overall market, so the practical answer depends on what and where you are transacting.
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