Troy's real estate market is experiencing a price correction, with values down 22.8% from last year. Home prices have decreased 23.2% in the past month. With 4.0 months of supply, Troy's inventory levels remain relatively tight. Homes are now taking an average of 93 days to sell, significantly longer than the 22 days typical for this market. A significant 37.5% of listings experienced price reductions, indicating sellers may be adjusting to market realities. Approximately 25.0% of homes sold above list price, indicating some competitive segments within the market. Affordability remains a significant challenge in the Troy market with the affordability index at 57.7. Looking ahead, the Troy market is expected to maintain its current trajectory with relatively stable conditions.