The luxury tier ($2,498,000, 2,508 sqft) is the one absorbing fastest, with 27 homes sold, only 17 new listings, and just 31 days on market. Inventory in that top bracket is actually getting tighter, not looser.
Meanwhile, the $1,475,000 tier (1,581 sqft) is running the other way, with 22 new listings against only 19 sold. More coming onto the market than getting scooped up, which is a mild oversupply signal.
Citywide, 27% of listings took a price cut vs just 3% that went up. Sellers overall are adjusting expectations downward more than the “strong seller’s market” tag suggests.
For buyers: The mid tier around $1.4–1.5M is where you’ll find the most room to negotiate. Listings are outpacing sales there, and price cuts are common. Don’t anchor to the luxury segment’s competitiveness; it’s not universal.
For sellers: If you’re at the top end ($2M+), you’re in the strongest position citywide right now. Fastest absorption, shortest time on market. If you’re closer to that $1.4–1.5M range, be ready to price carefully and possibly adjust early rather than waiting to see what happens.
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