With only 0.6 months of inventory, Westerly remains a seller's market. Home prices have decreased 7.7% in the past month. At the current pace, all available homes in Westerly would sell out in just 0.6 months, indicating a continued supply shortage. Homes are now taking an average of 94 days to sell, significantly longer than the 19 days typical for this market. Approximately 20.0% of homes sold above list price, indicating some competitive segments within the market. Affordability remains a significant challenge in the Westerly market with the affordability index at 193.3. Based on current market indicators, home prices in Westerly are projected to increase by approximately 42.8% over the next month.
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