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 6/30/20 2019 2018 2017 2016 2015 2014
Median* Sold Price $452,500 $450,000 $402,500 $349,900 $299,750 $305,000 $292,500
Median* Days on Market 89 84 69 70 117 113 89
Total Condos SOLD 100 387 348 407 304 271 269

Through June 2020, the median condo price is relatively flat as compared to 2019. If we annualize YTD 2020 condos sold, we are on track to sell 51% fewer condo than in 2019, and those that do sell are taking 5% longer (up 7 days). Of course, this trend is not reliable due to the current COVID-19 crisis.

Single Family Homes

Through 6/30/20 2019 2018 2017 2016 2015 2014
Median* Sold Price $735,000 $767,625 $890,000 $750,000 682,500 694,400 $619,000
Median* Days on Market 126 113 113 131 132 165 145
Total SF Homes Sold 39 94 87 95 98 91 85

Through June 2020, the median price of single family homes sold is slightly up (about 4%) as compared to 2019. If we annualize YTD 2020 single family homes sold, we are on track to sell approximately 12% less as compared to 2019, and those that do sell are taking 11% longer (up 13 days). Of course, this trend is not reliable due to the current COVID-19 crisis.

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

Currently Listed Condos Single-Family Homes
Median Price* $443,500

UP from $429,000 in June

$1,157,000

DOWN from $1,190,000 in June

Median Days on Market* 57

DOWN from 82 in June

53

DOWN from 100 in June

Total Available March 1** 116

UP from 90 in June

42

UP from 33 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.

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