Sales dropped in May

Single-Family:

Sales dropped by 19% in May and pending sales fell 32%. Thus may be due to some delayed closings and the small inventory preventing buyer from finding a home to purchase. The average sale price increased 9% while the median sales price was up by 11%. The number of new listings just fell off a cliff down by 42%. The active listings also experienced a sharp decline of 18%. The months of inventory now stands at 1.2 months.

Sales: 92

Average Sales Price: $272,647

Median Sales Price: $261,900

Pending Sales: 77

New Listings: 92

Active Listings: 130

Months of Inventory: 1.2