Real Estate Report presented by Neal Hribar

After being higher than the year before eighty-one months in a row, the median sales price for homes was off 1.6% last month. The average sales price was down 5.1%.

Home sales, meanwhile, were down 2.4% from last March. That’s twenty-five months in a row that sales of single-family homes were lower than the year before.

Days on Market, or how long it took from when a home was listed for sale to when it went into escrow, was thirty-nine last month. The average since January 2001 is fifty-seven days.

The sales price to list price ratio was 98.4%. The National Association of REALTORS® considers a ratio of 95% to indicate a balanced market.

Although inventory continues to be abysmal, it has increased, year-over-year, for the past ten months in a row. It is still less than one-half the average since 2001. As of the 10th of April, there were 3,771 homes for sale. We average 8,515!

This is reflected in our Days of Inventory statistic which is sixty-four for homes. The average is one-hundred and forty-four.

The median sales price for re-sale condominiums was up 2.4% year-over-year. The average price gained 6.5%.

The sales price to list price ratio for condos was 98.8% last month.

Condo sales were down 10.5%. Condo sales have been lower than the year before twenty of the past twenty-one months.

Condos are selling in thirty-eight days, the average is fifty-five days.

Condo inventory is at 1,665 units for sale. The average is 3,460.

There are sixty Days of Inventory for condos. The average is one-hundred and thirty-two.

If you would like to know what’s going on in your neighborhood, click on Recent Sales & Listings. That will tell you what is for sale and what has sold.