The housing market in Metropolis continues to see strong price appreciation, with values up 57.6% compared to last year. Home prices have increased 90.0% in the past month alone. With 3.7 months of supply, Metropolis's inventory levels remain relatively tight. Homes are now taking an average of 93 days to sell, significantly longer than the 56 days typical for this market. A significant 22.7% of listings experienced price reductions, indicating sellers may be adjusting to market realities. Approximately 16.7% of homes sold above list price, indicating some competitive segments within the market. Affordability remains a significant challenge in the Metropolis market with the affordability index at 112.2. Based on current market indicators, home prices in Metropolis are projected to decrease by approximately 30.0% over the next month.
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