We are finally seeing signs of the Spring market with internet traffic, visits to listings, and sales picking up. Having said that, the volume of sales and pricing (for resale properties) is still well off of where we we would like to see it. However, the opportunities are definitely there, with sellers taking less for their homes than they would like but earning that money back by paying less for the home that they buy.
Sellers should be prepared to price their home sharply, and be ready for it to take longer to sell than they may think. But, the good news is that well priced homes continue to be in demand by buyers who are tired of seeing the same inventory, week after week.
Over the last 30 days, 142 single family houses were sold, up by 15 houses from last week. The median price is down $2,500 to $492,500. The average house was on the market for 82 days.
In the same time period, 76 condos were sold, up by 4 condos from last week. The median price is up $10,275 to $244,950. The average condo was on the market for 63 days.
There are now 1,657 houses for sale, down by 1 from last week. Condo inventory has fallen by 6 to 867 suites.
(h)(s)