March Residential Highlights:
There were 186 new listings in March 2020, an 8.1% increase from March 2019 (172) and 31.0% increase from last month in February 2020 (142). Pending sales (142) decreased 5.3% from March 2019 (150) and decreased 6.0% from last month in February 2020 when 151 offers were accepted. Closed sales (129) decreased 1.5% from March 2019 (131) and rose 12.2% from the 115 closings recorded last month in February 2020.
Inventory and Time on Market:
Inventory in March fell slightly to 3.3 months, with total market time decreasing to 96 days.
Year to Date Summary:
Comparing the first three months of 2020 to the same period in 2019, new listings (515) increased 6.4%, pending sales (425) increased 5.2% and closed sales (365) increased 9.9%.
Average and Median Sales Prices:
Comparing 2020 to 2019 through March, the average sale price has decreased 0.8% from $241,400 to $239,400. In the same comparison, the median sale price increased 4.9% from $212,500 to $223,000.
In the link below, you will find the latest market statistics for home sales in your neighborhood!
As always, you can find additional information on our website and we would love to connect with you on Facebook!
*Inventory in Months is calculated by dividing the Active Residential Listings at the end of the month in question by the number of closed sales for that month. This number includes proposed and under construction homes.