Prices increase as inventory declines.
Sales increased 16.83% in March compared to February. Pending Sales were up 5.8%. The median sale price rose 0.25% but the average sales price saw a jump of 11.67%. The ratio of sales price to original list has a small increase of 3.6%. New listings climbed 38.89%, but with the increases in sales and pending sales, the number of active listings dropped by 16.85%. Days on market fell 8.06% and the months of inventory fell 20%. Buyers are having a hard time finding that dream home.
Pending Sales: 73
Median Sales Price: $510,000
Average Sales Price: $607,237
Ratio of Sales Price to Original List: 97.2%
Days on Market: 57
Months of inventory: 0.8 months