And so the trend evaluation begins.
Active
Volume: 294 (-5.7%)
Low: $619,000 (0)
High: $24,000,000 (0)
Average: $3,625,500.28 (2%)
Median: $2,882,000 (3%)
Under Contract
Volume: 55 (2%)
Low: $888,000 (20%)
High: $6,999,000 (0)
Average: $2,499,425.44 (-4%)
Median: $2,195,000 (1%)
Pending
Volume: 31 (3%)
Low: $729,000 (0)
High: $24,995,000 (0)
Average: $2,951,451.74 (-11%)
Median: $1,890,000 (-3%)
Sold (last 30 days)
Volume: 51 (4%)
Low: $719,000 (-7%)
High: $7,000,000 (0)
Average: $2,718,073.53 (7%)
Median: $2,150,000 (16%)
Average % Difference Between List Price and Purchase Price: -4.3% (-1%)
I would argue that the data appears to demonstrate a tightening market. Between the volume of available listings available, the 20% jump on low and under contracts, number of solds increasing, and average sale price increasing. Nonetheless, I would note that there is a good chance that there were some slightly higher sales in the last week that caused the dramatic jump in the sold median as well as the average pending price taking an 11% hit. I still think it's important to see that the list price versus sold price is less than a 5% gap. I might expect to see this number to move closer to 0 if inventory continues to stay low.
Stay tuned for condos and town homes tomorrow.
Active
Volume: 294 (-5.7%)
Low: $619,000 (0)
High: $24,000,000 (0)
Average: $3,625,500.28 (2%)
Median: $2,882,000 (3%)
Under Contract
Volume: 55 (2%)
Low: $888,000 (20%)
High: $6,999,000 (0)
Average: $2,499,425.44 (-4%)
Median: $2,195,000 (1%)
Pending
Volume: 31 (3%)
Low: $729,000 (0)
High: $24,995,000 (0)
Average: $2,951,451.74 (-11%)
Median: $1,890,000 (-3%)
Sold (last 30 days)
Volume: 51 (4%)
Low: $719,000 (-7%)
High: $7,000,000 (0)
Average: $2,718,073.53 (7%)
Median: $2,150,000 (16%)
Average % Difference Between List Price and Purchase Price: -4.3% (-1%)
I would argue that the data appears to demonstrate a tightening market. Between the volume of available listings available, the 20% jump on low and under contracts, number of solds increasing, and average sale price increasing. Nonetheless, I would note that there is a good chance that there were some slightly higher sales in the last week that caused the dramatic jump in the sold median as well as the average pending price taking an 11% hit. I still think it's important to see that the list price versus sold price is less than a 5% gap. I might expect to see this number to move closer to 0 if inventory continues to stay low.
Stay tuned for condos and town homes tomorrow.
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