Subscribers of my Real Estate Newsletter have received another copy, with the latest market trends. For those of you who don’t subscribe, here’s what is going on in a nutshell. This is county-wide, for single-family residences:
Median Price: $790,000 (year ago: $755,000)
Average Price: $832,842 (year ago: $846,921)
Units Sold: 153 (year ago: 193)
Sale/List Price Ratio: 97.9% (year ago: 98.0%)
Days of Inventory: 238 (year ago: 174)
Days on Market: 89 (year ago: 68)
Clearly the best bit of news here is that the median price is up quite a bit. Everything else, though, definitely shows a softer market. And the median price number is deceptive – what’s going on here is that more middle-and-upper range homes are selling than on the lower end. The condo market might be classified as “in the tank,” for example.
But, fear not – this too shall pass.