In the last 30 days, 209 single family houses were sold, down 7.1% from last week. The median price is up 0.4% to $550,000. The average house was on the market for 46 days, 3 days less than in my last report.
In the last 30 days, 109 condos were sold, down 1.8% from last week. The median price is unchanged at $278,700. The average condo was on the market for 56 days, 5 days less than in my last report.
In the last week, the local inventory of single family homes has dropped by 6.9% to 1369 homes. Condo inventory has fallen by 4.8% to 759 suites.
Overall, the market is exceedingly healthy and brisk for this time of year, especially taking into account the soft early fall market we experienced. SFH home prices are stable and well priced homes are selling quickly. If there is any softness to be found, it is in the condo market where prices are still sliding downwards with the number of units sold decreasing at the same time. Even though the days on market decreased this week, the trend for condos is for an increasing time to sell.
Inventory is low as we expect it to be at this time of the year. A tip for any of you considering selling this spring - start thinking about prepping your home for sale
In the mean time, we wish you a very happy holiday season with your family and friends.
