Don’t look for drama in this month’s statistical report. For the third month in a row we see a leveling off from nearly every perspective.
Listing inventory remains 17% lower than this time last year and is down .49% from February. New pending sales are down 22% from last year but are up 7% from February. If this trend (less listings/more sales) continues, we’ll start to absorb some of that excess inventory.
The
median sales price is down 10% year over year and only moved fractionally from February to March. This is in direct contrast to national reports that show a continued downward spiral in values. Our market usually out-performs other parts of the country during this season and this year is no exception.
The only real exceptions to this blasé report could be the
unit sales which are up 34% over February at 892. That was only 4% lower than the same time last year.
# posted by
Anna-Lise Troup @ 6:15 PM
