Sales were up. It’s still a seller’s market

Single-Family:

Sale were up by 7% as compared to a year ago. The average sales price increased by 1% while the median sales price rose by 6%. The trend of sales concentrated in the upper price ranges continues. Pending sales jumped 22% so we can anticipate that December sales will be good. We did see an increase of 23% in the number of new listings and a rise of 14% in the active listings. These increases brought the months of inventory to 1.5 months, We are well short of the 6 months that is considered a balanced supply.

Sales : 178

Average Sales Price: $299,407

Median Sales Price: $275000

Pending Sales: 206

New Listings: 217

Active Listings: 339

Months of Inventory: 1.5

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