May Residential Highlights:
New listings (174) decreased 33.6% from the 262 listed in May 2019, and decreased 1.1% from the 176 listed in April 2020. Pending sales (192) increased 3.2% from the 186 offers accepted in May 2019, and increased 29.7% from the 148 offers accepted in April 2020. Closed sales (128) decreased 10.5% from the 143 closings in May 2019, and increased 13.3% from the 113 closings in April 2020.
Inventory and Time on Market:
Inventory decreased to 3.2 months in May. Total market time decreased to 73 days.
Year to Date Summary:
Comparing the first five months of 2020 to the same period in 2019, new listings (869) decreased 10.9%, pending sales (731) decreased 2.1%, and closed sales (608) held steady.
Average and Median Sales Prices:
Comparing 2020 to 2019 through May, the average sale price has increased 4.3% from $233,500 to $243,500. In the same comparison, the median sale price has increased 6.2% from $211,800 to $225,000.
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!
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*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.