With only 2.8 months of inventory, Pelham remains a seller's market. Home prices have decreased 9.6% in the past month. With 2.8 months of supply, Pelham's inventory levels remain relatively tight. Homes are taking about 59 days to sell, which is 3 days longer than this time last year. A significant 28.6% of listings experienced price reductions, indicating sellers may be adjusting to market realities. Approximately 20.0% of homes sold above list price, indicating some competitive segments within the market. Affordability remains a significant challenge in the Pelham market with the affordability index at 114.5. Based on current market indicators, home prices in Pelham are projected to increase by approximately 50.6% over the next month.
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