Single Family Homes:
October’s median sales price, $1,400,000, continued to ease back from its peak in June, but is still up 5.2% above October 2016. On a 3-month rolling average, the median sales price is up 6.5% above 2016.
The number of new listings year-to-date is down 5% from 2016 while the number of sales is up slightly by 0.6%. This is keeping inventory very low, currently at 2 months.
The low inventory coupled with strong demand kept offers strong, with homes selling for a median price of 99% of list price.
Median sold prices are up slightly, 2.6%, above last year’s when viewed on a 3- month rolling average.
Inventory is down 44% from last October and stands at 1.4 months.
Like single family homes, the number of condo/townhome listings is down yearto-date by 5%, compared to 2016, while sales are up 8.9%.