| Trends at a Glance | |||
| (Single-family Homes) | |||
| Apr 08 | Mar 08 | Apr 07 | |
| Median Price: | $779,500 | $812,500 | $865,000 |
| Average Price: | $992,100 | $987,888 | $1,093,150 |
| Home Sales: | 608 | 551 | 914 |
| Inventory: | 6,032 | 5,597 | 4,708 |
| Sale/List Price Ratio: | 98.6% | 98.6% | 100.7% |
| Days on Market: | 49 | 55 | 35 |
| Days of Inventory: | 298 | 305 | 155 |
Sales of single-family, re-sale homes rose 10.3% last month compared to March. Year-over-year, sales
were off 33.5%. Year-to-date, home sales are off 37.8%.
The median price for homes dropped 4.1% month-over-month, and was off 9.9% compared to last April. Nevertheless, we're hearing reports that well-priced homes in the best neighborhoods are receiving multiple offers.
Condo sales were also up last month, rising 12% from March, but off 45.6% year-over-year.
The median price for condos dropped 5.2% from the month before, and was down 9.4% year-over-year.
Inventory continues to increase with the supply of homes up 7.8% from March, and up 28.1% year-over-year. Condo inventory gained 8.3%, up 20% compared to last April.
The sales price to list price ratio was flat at 98.6% for homes. The ratio for condos stayed even at 97.7%.
Days on market fell six days to 49 for homes. Days on market for condos rose five days to 57 days.
Our days of inventory indicator for single-family homes continued downward on the increase in sales, shedding 7 days, sending the indicator to 298 days. The indicator for condos fell ten days to 291.
The sales chart below shows the historic inventory and sales since January 1999. Click on the chart to expand it, then click your browser's back button to return.
The chart below tracks the change in median and average prices since January 1999. Click on the chart to expand it, then use your back button to return.
The real estate market is very hard to generalize. It is a market made up of many micro markets. For complete information on a particular neighborhood or for an evaluation of your home's worth, call me.
If I can help you devise a strategy, call or click the buying or selling link in the menu to the left.
These statistics are generated using information from the MLSListings, Inc., but have not been verified and are not guaranteed. MLSListings, Inc. disclaims any responsibility for the accuracy and reliability of these statistics. This information should not be relied upon for real estate transaction decisions.
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