Sales up. Prices rise.

Homes sales rose 10% in March compares to last year. Pending sales whoever were down 9%. The average sales price climbed 16%. Median sales price saw a rise of 24% as buyers concentrated their purchases in the higher priced properties. New listings continue to decline off 38%. The number of active listings fell by 87% taking the months of inventory down to 0. 4 months. That means at current sales levels the supply of homes would be exhausted in 12 days.

Sales: 55

Average Sales Price: $472,545

Median Sales Price: $424,660

Pending Sales: 61

New Listings: 50

Active Listings: 26

Months of Inventory: 0.4 months

Information provided by The Real Estate Center