Whitsett's real estate market is experiencing a price correction, with values down 7.7% from last year. Home prices have increased 60.0% in the past month alone. With 10 active listings, inventory is 400% higher than seasonal norms. Transaction volume is up 200% compared to what's typically expected this time of year. A significant 60.0% of listings experienced price reductions, indicating sellers may be adjusting to market realities. Approximately 33.3% of homes sold above list price, indicating some competitive segments within the market. Affordability remains a significant challenge in the Whitsett market with the affordability index at 2465.8. Market projections suggest continued price appreciation in the coming months as demand outpaces supply.
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