In the last 30 days, 149 single family houses were sold, down 20.3% from last week. The median price is up 3.1% to $570,000. The average house was on the market for 50 days, 4 days longer than in my last report. Keep in mind that this includes the holiday season which is typically the slowest part of the year for selling homes. I was interested to see that the median price crept up a bit. I wonder if this will hold as the pace of the spring market increases?
In the last 30 days, 100 condos were sold, down 13.0% from last week. The median price is up 2.3% to $285,000. The average condo was on the market for 57 days, 3 days less than in my last report.
In the last week, the local inventory of single family homes has dropped by 11.2% to 1177 homes. Condo inventory has fallen by 13.0% to 627 suites. This should be the lowest inventory level for the year. We expect many new listings to come online by the end of January.
