Demand remains strong. Supply continues to decline.

Single-Family:

Sales were up by 10% in May as compared to last May. The average sales price increased by 7% while the median sales price rose by 8%. Pending sales jumped 24%we can anticipated a good sales number for next month. The number of new listings fell so  by 1% and the active listings declined by 2%. The months of inventory now stands at 2.3 months.

The months of inventory is a little deceiving because in the price ranges from $100,000 to $250,000 the months of inventory is much closer to 1 month. If you are a buyer in these price ranges you should expect to pay considerably over the asking price and your Realtor my have to write 5 to 10 offers for you before you get 1 accepted.

Sales : 9,978

Average Sales Price: $289,377

Median Sales Price: $232,500

Pending Sales: 10,730

New Listings: 12,153

Active Listings: 18,108

Months of Inventory: 2.3