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 6/30/19 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 91 69 70 117 113 89 105 123
Total Condos SOLD 169 348 407 304 271 259 345 299

 

At the end of the first half of 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 30% longer.

 

 

Single-Family Homes

 

Through 6/30/19 2018 2017 2016 2015 2014 2013 2012
Median* Sold Price $832,500 $890,000 $750,000 $682,500 $694,400 $619,000 $580,000 $575,000
Median* Days on Market 122 113 131 132 165 145 103 181
Total SF Homes Sold 42 87 95 98 91 85 90 91

 

At the end of the first half of 2019, single family home prices are down approximately 7% 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 taking approximately 8% longer to sell.

 

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

 

Currently Listed Condos Single-Family Homes
Median Price* $449,250

UP from $439,900 in June

$949,000

No change from June

Median Days on Market* 62

UP from 51 in June

55

DOWN from 57 in June

Total Available July 1** 108

UP from 107 in June

46

UP from 41 in June

 

 

*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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