May 2016 District 5 Market Conditions

District 5’s April numbers continue their strong upwards trend with their highest ever median sales price of $2,287,500. Year-over-year, the median price is up 8.9%.

Single Family Home Median Prices

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Resale Condo/Loft Median Prices

Resale Condo-Loft median prices have resumed the downward trend that started last September with a brief uptick in January and February. They dropped 2.3% from March to April, landing at $1,245,000, which is the lowest median sales price since April 2015. They are down 0.4% year-to-date and 9.6% since their peak at $1,377,000 September 2015.

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Days on Market – Single Family Homes

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While Single Family Homes Days on Market inched up to 17 in April, they are still at historically low numbers.

Day on Market for Resale Condo/Lofts dropped from 19 to 16.

Days on Market – Resale Condo/Lofts

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Months Supply of Inventory – Single Family Homes

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Single Family Homes Months Supply of Inventory dropped slightly to 2.4 from March’s 2.5 and up from April, 2015’s 1.7.

Resale Condo/Lofts dropped from 1.8 to 1.7 Months Supply of Inventory.

Months Supply of Inventory – Resale Condo/Lofts

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New Listings – Single Family Homes

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This April, there were the same number of new single family home listings as in April, 2015. Over all, there have been 136 new listings in District 5 this year, one fewer than last year.

There have been 43 fewer condo/loft listings brought on the market year-to-date in 2016 than 2015. This is a 26% drop. Ant this is the first time in four years that the number of new condo/loft listings was lower in April than March.

New Listings – Resale Condo/Lofts

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