Is it the weather or has the market just woken up? Over the last few weeks we have really seen the market for houses take off! Compared to just a month ago, the number of houses sold has increased by a whopping 38% Even compared to last year, more houses sold in the last 30 days than the same period last year. If you want to take advantage of this hot market, now is definitely the time to get your house on the market. However, you will still need to price your home well. Even though the market is moving very quickly, homes are still selling for less than they were at this time last year. Our stats still show that the median price is down by about 3% and holding there.
The condo market, unfortunately, is continuing its slower pace of sales. The number of condos selling is still well down from last year. If this market is going to pick up, some sellers will likely need to adjust their pricing downwards to match buyer's expectations.
Here are the actual stats:
Over the last 30 days, 347 single family houses were sold, up by 24 houses from last week. The median price is up $3,443 to $545,593. The average house was on the market for 35 days. In the same time period, 143 condos were sold, up by 9 condos from last week. The median price is unchanged at $275,000. The average condo was on the market for 51 days.
There are now 2,160 houses for sale, up by 20 from last week. Condo inventory has fallen by 1 to 945 suites.
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