In September, the final days of the tax credit continued to spur buyers in the MRIS region into action. There were 11,927 signed purchase agreements, an increase of 38.4 percent from a year ago. It also represented a slight increase from August, which is quite remarkable considering that September typically means a drop-off in sales as the school year begins.
Good news for sellers: the Average Days on Market Until Sale is now shrinking and the Percent of Original List Price Received at Sale is now growing. This is a direct result of the fact that the Months Supply of Inventory has shrunk from 10.0 to 6.4 in the last year.
