Mount Vernon's real estate market is experiencing a price correction, with values down 13.2% from last year. Home prices have decreased 40.6% in the past month. At the current pace, all available homes in Mount Vernon would sell out in just 1.4 months, indicating a continued supply shortage. Homes are now taking an average of 58 days to sell, significantly longer than the 16 days typical for this market. A significant 30.0% of listings experienced price reductions, indicating sellers may be adjusting to market realities. Approximately 28.6% of homes sold above list price, indicating some competitive segments within the market. Affordability remains a significant challenge in the Mount Vernon market with the affordability index at 449.5. Based on current market indicators, home prices in Mount Vernon are projected to decrease by approximately 5.0% over the next month.