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 10/31/20 2019 2018 2017 2016 2015 2014
Median* Sold Price $487,500 $450,000 $402,500 $349,900 $299,750 $305,000 $292,500
Median* Days on Market 70 84 69 70 117 113 89
Total Condos SOLD 352 387 348 407 304 271 269

Through October 2020, the median condo price is up 8% over 2019. If we annualize year-to-date 2020 condos sold, we are on track to sell 9% more condos than in 2019. Condos are selling 20% faster than in 2019 (down 14 days).

Single Family Homes

Through 10/31/20 2019 2018 2017 2016 2015 2014
Median* Sold Price $839,999 $767,625 $890,000 $750,000 682,500 694,400 $619,000
Median* Days on Market 90 113 113 131 132 165 145
Total SF Homes Sold 101 94 87 95 98 91 85

Through October 2020, the median price of single family homes sold is up 9% over 2019. Annualizing year-to-date 2020 single family homes sold, we are on track to sell nearly 30% more in 2020 as compared to 2019. Single family homes are also selling 25% faster in 2020 than in 2019 (down 23 days).

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

Currently Listed Condos Single-Family Homes
Median Price* $474,500

UP from $417,500 in October

$1,749,000

UP from $1,198,000 in October

Median Days on Market* 37

DOWN from 45 in October

64

UP from 39 in October

Total Available on Nov. 1** 38

DOWN from 42 in October

28

DOWN from 33 in October

*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 report.

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