The median sale price for both single-family homes and condo/townhomes rose in May. The seasonal heating up of the market over the Spring, combined with low interest rates, has encouraged buyers to jump back into the market.
While inventory levels continue to climb relative to 2018, they’re still objectively low, reflecting a continuing strong seller’s market.
Compared with 2018, 4.6% fewer homes have come on the market this year for single-family homes, while sales are down 6.8%. Condo/Townhome year-to-date new inventory is down 19% year-to-date, while sales are down 26%.
The median percentage of list price received has risen slightly for both homes and condo/townhomes compared to 2018.
|Summary of the Numbers – June 2019*||Single Family Residences (SFR)||% Change Year-over-Year||Condo/ Townhomes||% Change Year-over-Year|
|Median Sales Price||$752,667||6.1%||$504,333||11%|
|Average Days on Market||76||18%||88||91%|
|Months of Inventory||3.0||35%||4.1||167%|
|% of List Price Received||95%||-1.0%||94%||-4.1%|
|New Listings (#)||97||-4.6%||9.0||-19%|
|Homes Sold (#)||65||-6.8%||7.7||-26%|
*Rolling 3-month average compared to same period prior year