There are several different data points to review when analyzing the current market including median price, days on market and total inventory sold. Below is a snapshot of the last several years of transactions closed and current inventory.

 

Condos

 

Through 7/31/19 2018 2017 2016 2015 2014 2013 2012
Median* Sold Price $450,000 $402,500 $349,900 $299,750 $305,000 $292,500 $265,000 $244,000
Median* Days on Market 85 69 70 117 113 89 105 123
Total Condos SOLD 208 348 407 304 271 259 345 299

 

Through July 2019, condo prices are up approximately 12% over year-end 2018. The trend indicates roughly the same number of condos will sell in 2019, and those that do sell are taking 23% longer.

 

 

Single-Family Homes

 

Through 7/31/19 2018 2017 2016 2015 2014 2013 2012
Median* Sold Price $785,000 $890,000 $750,000 $682,500 $694,400 $619,000 $580,000 $575,000
Median* Days on Market 102 113 131 132 165 145 103 181
Total SF Homes Sold 53 87 95 98 91 85 90 91

 

Through July 2019, single family home prices are down approximately 14% from year-end 2018. The trend for 2019 indicates about the same number of homes will sell in 2019 as in 2018. Those that do sell are selling approximately 10% quicker than in 2018.

 

The current inventory provides an indication of potential activity. Below is a snapshot of current listings:

 

Currently Listed Condos Single-Family Homes
Median Price* $429,000

DOWN from $449,250 in July

$1,050,000

UP from $949,000 July

Median Days on Market* 44

DOWN from 62 in July

45

DOWN from 55 in June

Total Available August 1** 128

UP from 108 in July

65

UP from 41 in July

 

*Median Price is the middle value for a range of values and is a good indicator to use when there is significant data. It minimizes the impact of unusually high or low values and gives a better perspective of the big picture.

 

**Total Available excludes properties currently under contract.

 

Download the PDF report.

 

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