**New NWA Market Statistics**
The most interesting thing about this monthly statistics update is what didn’t change. Median sell price and median days to sell were the same for September and October. Even if small, we typically see fluctuations in these metrics from month-to-month. Seeing this consistency is a good thing in our opinion.
Median sells price holding steady while price per square foot saw a $5/SQFT increase is an indicator of marginal appreciation in values without the significant jump in overall market pricing conditions. Also reflective of the current market consistency is seeing sale prices versus original list prices remain high. Meaning, we aren’t seeing sellers make large price drops to find buyers.
The total sales volume by dollars and by counts saw decreases from last year and last month. However, the rate of decrease of these two metrics was slower for both the 12-month change (about 17% decrease in Oct 2022) and prior month change (about 12% decrease last month).
The only double-digit change from last month was months of inventory. That’s not significant given a single-unit change in that will yield a double-digit percent change since the number is so small to start with. Similarly, there was only one other metric that had a double-digit percentage change from an annual standpoint. Median days to sell had a 10.7% increase from last year; however, this (still historically low number) is the smallest annual percentage increase in the last 9 months.
All in all, things are pretty consistent with the 12-month and 1-month numbers. No statistic jumps out as attention grabbing or a clear indicator that a market shift has taken hold of NWA.