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.
|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.
|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|
UP from $459,500 in February
UP from $1,125,000 in February
|Median Days on Market*||28
DOWN from 47 in February
DOWN from 165 in February
|Total Available March 1**||64
UP from 58 in February
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.