Wow, 24 months of inventory for DT Condos as of June 20, 2024. This is extraordinary. And we see an inverted price pattern on the right side of this chart telling us at a glance that listings are over-priced for demand. (Mine is one of them).
In a *rising* market, Actives can be priced higher than Pendings, which are priced higher than Solds (skate to where the puck will be).
In a declining market, those price relationships result in a 2 year inventory. Pricing has to catch the falling market.
Read more: Austin Downtown Condo Over-SupplyAs I am my own seller on my Seaholm unit, I ask myself, should I cut the price by 10%, or hold tight and wait for the market to rebound in perhaps two years?
FYI – ChatGPT create this chart upon my instructions. Charts like this tell stories that are easy for buyers and sellers to understand.