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||$450,000||$402,500||$349,900||$299,750||$305,000||$292,500||$265,000||$244,000|
|Median* Days on Market||84||69||70||117||113||89||105||123|
|Total Condos SOLD||387||348||407||304||271||259||345||299|
In 2019 condo prices were up 12% over year-end 2018. Approximately 11% more condos sold in 2019. Those that did sell took 21% longer (up 15 days) to sell than in 2018.
|Median* Sold Price||$767,625||$890,000||$750,000||$682,500||$694,400||$619,000||$580,000||$575,000|
|Median* Days on Market||96||113||131||132||165||145||103||181|
|Total SF Homes Sold||94||87||95||98||91||85||90||91|
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 18% faster (down 17 days) than in 2018.
The current inventory provides an indication of potential activity. Below is a snapshot of current listings:
|Currently Listed||Condos||Single-Family Homes|
DOWN from $462,000 in December
UP from $1,050,000 in December
|Median Days on Market*||72
DOWN from 96 in December
UP from 125 in December
|Total Available December 1**||64
DOWN from 66 in December
DOWN from 64 in December
*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.