12 month period: Feb – Jan, Year-Over-Year Comparison
Good news for buyers interested in the Bywater: inventory has nearly doubled, year-over -year, and homes are spending more than 50% more time on market than in the prior year.
Over the past three years, inventory has been so limited here – hovering around 3 months supply on average – that desirable properties went under contract very quickly and sold within roughly one month. Although inventory jumped to 7.9 months at the close of January 2017, it’s hardly a buyer’s market across the board. Some price ranges are still very competitive: those searching for homes listed below $250,000 will find just 2.5 months of available inventory as of January 2017.
The charm, architecture and burgeoning arts and cultural scene in the Bywater have made this market highly competitive, but early indicators suggest that now may be a good time to get into this market with a larger selection of available properties than in years past.