Market Notes August 22, 2015: Could we be headed towards a shortage of inventory? Quite possibly. Just 290 subdivision homes are currently available on the MLS, listed at an average of $87.91 per square foot. Out of those 290 homes, 49 are new builds, and 40 are distressed homes, meaning either a short sale or bank owned home, so just 200 traditional resale homes are available, easily the lowest number of available resale homes in the last 5 years. 225 homes are currently under contract, down from 235 the week prior, and it was a strong week in sales as 39 homes sold, selling on average for $74.78 per square foot and bringing our YTD numbers now to 974 homes sold at an average of $76.96 per square foot.