Calculate the percentage of the property management fee

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 2/29/20 2019 2018 2017 2016 2015 2014 2013
Median* Sold Price $439,000 $450,000 $402,500 $349,900 $299,750 $305,000 $292,500 $265,000
Median* Days on Market 103 84 69 70 117 113 89 105
Total Condos SOLD 51 387 348 407 304 271 259 345

In 2019, condo prices were up 12% over year-end 2018. Approximately 11% more condos sold in 2019 and those that did sell took 21% longer (up 15 days) to sell than in 2018. It is too early to identify 2020 trends.

Single-Family Homes

Through 2/29/20 2019 2018 2017 2016 2015 2014 2013
Median* Sold Price $807,000 $767,625 $890,000 $750,000 $682,500 $694,400 $619,000 $580,000
Median* Days on Market 143 96 113 131 132 165 145 103
Total SF Homes Sold 16 94 87 95 98 91 85 90

In 2019 single family home prices were down approximately 16% from year-end 2018. Approximately 8% more single family homes sold in 2019. Those that did sell sold about 17% faster (down 17 days) than in 2018. It is too early to identify 2020 trends.

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

Currently Listed Condos Single-Family Homes
Median Price* $472,000

UP from $459,500 in February

$1,189,000

UP from $1,125,000 in February

Median Days on Market* 28

DOWN from 47 in February

129

DOWN from 165 in February

Total Available March 1** 64

UP from 58 in February

47

DOWN from 49 in February

*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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