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 4/30/20 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 97 84 69 70 117 113 89 105
Total Condos SOLD 89 387 348 407 304 271 259 345

Through April 2020, the median condo price is down 2.5% compared to 2019. If we annualize YTD 2020 condos sold, we are on track to sell 44% fewer condo than in 2019, and those that do sell are taking 15% longer (up 13 days). Of course, this trend is not reliable due to the current COVID-19 crisis.

Single-Family Homes

Through 4/30/20 2019 2018 2017 2016 2015 2014 2013
Median* Sold Price $780,000 $767,625 $890,000 $750,000 $682,500 $694,400 $619,000 $580,000
Median* Days on Market 148 113 113 131 132 165 145 103
Total SF Homes Sold 31 94 87 95 98 91 85 90

Through April 2020, the median price of single-family homes sold is relatively flat (less than 2% variance) as compared to 2019. If we annualize YTD 2020 single family homes sold, we are on track to sell the same number as in 2019, and those that do sell are taking 30% longer (up 35 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* $444,000

DOWN from $449,900 in April

$1,124,000

DOWN from $1,123,000 in April

Median Days on Market* 74

UP from 46 in April

148

UP from 127 in April

Total Available March 1** 74

DOWN from 87 in March

30

DOWN from 35 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.

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