In the last 30 days, 225 single family houses were sold, up 3.2% from last week. The median price is down 0.6% to $547,900. The average house was on the market for 49 days, 1 days less than in my last report. Although the volume of sales is increasing slightly, we are seeing a corresponding slow decrease in selling prices.
In the last 30 days, 111 condos were sold, down 4.3% from last week. The median price is down 0.5% to $278,700. The average condo was on the market for 61 days, 6 days less than in my last report. Both volume and selling prices are dropping due to a relatively high inventory level.
In the last week, the local inventory of single family homes has increased by 0.3% to 1471 homes. Condo inventory has risen by 0.4% to 797 suites. Overall, SFH inventory is stable or dropping slightly while the condo inventory is growing.
