How competitive is the Auburn housing market?

The Auburn housing market is currently leaning competitive for sellers. This is mainly because there are fewer homes for sale and homes are selling relatively quickly. Buyers, however, are seeing a slight drop in prices from the previous month. Right now, the median listing price in Auburn is $321,694. This is a small increase of 2.3% compared to the same time last year. However, prices actually fell by 6.3% in the most recent month. There aren't many homes to choose from in Auburn right now, which gives sellers an advantage. There are only 56 active listings, which is 21.7% fewer homes than a year ago. Also, fewer new homes are coming onto the market, with new listings down by 23.3% over the past year. Houses are staying on the market longer than before. Homes are sitting for a median of 47 days, which is 51.6% longer than this time last year. Despite this, with a pending ratio of 1.30, more homes are going under contract than are actively for sale, showing steady buyer interest. For sellers, this could be a good time to list your home, but be mindful that prices have softened recently. For buyers, while competition is real due to low inventory, the recent price drop could offer a small window of opportunity.