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 eight years of transactions closed and current inventory.

 

Condos

 

Through 4/30/19 2018 2017 2016 2015 2014 2013 2012
Median* Sold Price $427,250 $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 106 348 407 304 271 259 345 299

 

At the end of April 2019, condo prices are up approximately 6% over year-end 2018. Fewer condos are selling so far in 2019 (trending down 8% over 2018) and those that do sell are taking 30% longer to sell.

 

 

Single-Family Homes

 

Through 4/30/19 2018 2017 2016 2015 2014 2013 2012
Median* Sold Price $799,000 $890,000 $750,000 $682,500 $694,400 $619,000 $580,000 $575,000
Median* Days on Market 140 113 131 132 165 145 103 181
Total SF Homes Sold 30 87 95 98 91 85 90 91

 

At the end of April 2019, single family home prices are down 11% from year-end 2018. Based on the first four months of 2019, the market is trending to sell about the same number of homes. Those that do sell are taking approximately 25% 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* $449,000

DOWN from $469,000 in April

$949,000

DOWN from $995,000 in April

Median Days on Market* 55

DOWN from 73 in April

74

DOWN from 116 in April

Total Available on May 1** 95

UP from 89 in April

43

UP from 34 in April

 

 

*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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