There has been a lot of news around the Federal Reserve raising interest rates but mortgage rates are up only 0.5% since December, currently at approximately 4.5%. So far, higher rates do not appear to have had a big impact on the market with many buyers still looking for both homes and condos.

Single Family Homes:

The three-month rolling average median sales price of $1,466,667 is down 0.6% over last year’s.

Year-to-date, new listings are down 4.5% while sales are up 1.2%.

April’s inventory of 1.7 months is 5.8% lower than in 2017.

The median percent of list price received was 101% in April.

Condos/Townhomes:

The three-month rolling average median sales price of $746,000 is up 10% over last year’s.

Year-to-date, new listings are flat compared to last year while sales were down 13%.

April’s inventory of 1.2 months is 8.3% lower than in 2017.

The median percent of list price received was 100% in April.