You can view the whole report here. March 2015 Stats
Below is an overview with commentary.
- The median sales price rose to $270,000 from $265,000 in February. Up 18.4% from March 2014. I’ve seen a lot more buyers have to pay the difference between appraisal and contract price due to appraisers not being able to catch up with the market.
- Number of homes sold jumped to 532 from 394 in February. 49 more sales than March 2014. This is a huge jump and the number of sales is comparable to the summer months.
- Average days on market was 96. For regular sales, the average days was 92 with short sales taking 209 days.
- There were 618 new listings in March. Compared to 522 in February and 661 in March 2014. The majority of these being between $200,000 and $400,000. 90% of these were regular sales.
- Current months supply of inventory fell to 2.6 months. The lowest in more than a decade.
Overall, same as last month. Not enough listings and too many buyer so prices will continue to increase.
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If you have any specific questions email me at Ricky@RickyBeach.com