Some focused, local info in this month’s report.
Local MLS market data shows 1265 For Sale Properties in May 2018. That amounts to 2.6 Months of Inventory across the price spectrum. 491 homes sold in May. Average Sold Price was $186,000, with a Median Sales Price of $159,000 in May. Before you conclude that it’s an across-the-board Seller’s Market, peek at the Luxury end of the spectrum. Homes above $400,000 numbered 212, equating to 9.6 Months of Inventory. Average Luxury Sold Price for the month was $562,000, with a Median Sales Price of $490,000 in May – these numbers are keyed off of just 22 sales.
Looking only at data from the home builders, we see 201 new homes listed, with over half of those falling the under $300,000 price point. Of those, 72 are under contract in May.
Finally, our non-scientific metric of “movers, moving” showed a nice, if expected uptick in May to 152 transactions involving housing-related sellers with more than one transaction in the month. See attached.