Centennial's real estate market is experiencing a price correction, with values down 5.0% from last year. Home prices have increased 3.4% in the past month alone. At the current pace, all available homes in Centennial would sell out in just 1.1 months, indicating a continued supply shortage. Homes are now taking an average of 46 days to sell, significantly longer than the 29 days typical for this market. A significant 32.1% of listings experienced price reductions, indicating sellers may be adjusting to market realities. Approximately 22.6% of homes sold above list price, indicating some competitive segments within the market. Affordability remains a significant challenge in the Centennial market with the affordability index at 30.2. Looking ahead, the Centennial market is expected to maintain its current trajectory with relatively stable conditions.
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