It’s a Seller’s Market

Single-Family:

 Sales were up by 22%. The average sales price jumped by 19% as compared to a year ago while the median sales price rose by 16%. We continue to see the sles concentrated in the higher end properties.

Pending sales increased 7%. The number of new listings was flat but the number of active listings increased by 27%. Unfortunately, this increase in the active listings only had the effect of causing the months of inventory to increase to 1.6 months. 6 months is considered a normal supply.

Sales: 80

Average Sales Price: $408,316

Median Sales Price: $387,010

Pending Sales: 79

New Listings: 97

Active Listings: 107

Months of Inventory: 1.6