July 1, 2019
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||91||69||70||117||113||89||105||123|
|Total Condos SOLD||169||348||407||304||271||259||345||299|
At the end of the first half of 2019, condo prices are up approximately 12% over year-end 2018. The trend indicates roughly the same number of condos will sell in 2019, and those that do sell are taking 30% longer.
|Median* Sold Price||$832,500||$890,000||$750,000||$682,500||$694,400||$619,000||$580,000||$575,000|
|Median* Days on Market||122||113||131||132||165||145||103||181|
|Total SF Homes Sold||42||87||95||98||91||85||90||91|
At the end of the first half of 2019, single family home prices are down approximately 7% from year-end 2018. The trend for 2019 indicates about the same number of homes will sell in 2019 as in 2018. Those that do sell are taking approximately 8% longer to sell.
The current inventory provides an indication of potential activity. Below is a snapshot of current listings:
|Currently Listed||Condos||Single-Family Homes|
UP from $439,900 in June
No change from June
|Median Days on Market*||62
UP from 51 in June
DOWN from 57 in June
|Total Available July 1**||108
UP from 107 in June
UP from 41 in June
*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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