September 2, 2019
Real Estate
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.
Through 8/31/19 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | |
Median* Sold Price | $455,000 | $402,500 | $349,900 | $299,750 | $305,000 | $292,500 | $265,000 | $244,000 |
Median* Days on Market | 79 | 69 | 70 | 117 | 113 | 89 | 105 | 123 |
Total Condos SOLD | 241 | 348 | 407 | 304 | 271 | 259 | 345 | 299 |
Through August 2019, condo prices are up approximately 13% over year-end 2018. The trend indicates roughly 4% more condos will sell in 2019, and those that do sell are taking 14% longer to sell than in 2018.
Through 8/31/19 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | |
Median* Sold Price | $774,000 | $890,000 | $750,000 | $682,500 | $694,400 | $619,000 | $580,000 | $575,000 |
Median* Days on Market | 97 | 113 | 131 | 132 | 165 | 145 | 103 | 181 |
Total SF Homes Sold | 63 | 87 | 95 | 98 | 91 | 85 | 90 | 91 |
Through August 2019, single family home prices are down approximately 15% from year-end 2018. The trend for 2019 indicates roughly 8% more single family homes will sell in 2019 as in 2018. Those that do sell are selling approximately 16% faster 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 |
Median Price* | $424,900
DOWN from $429,000 in August |
$1,050,000
NO CHANGE from August |
Median Days on Market* | 65
UP from 44 in August |
63
UP from 45 in August |
Total Available September 1** | 129
UP from 128 in August |
69
UP from 65 in August |
*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.
Stay up to date on the latest real estate trends.
December 24, 2024
December 16, 2024
December 14, 2024
December 9, 2024
December 5, 2024
December 1, 2024
December 1, 2024
November 22, 2024
November 13, 2024
You’ve got questions and we can’t wait to answer them.