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Market Update 3/14/2017                                                                                  March 2017 - Vol 11, Week 10
Up-to-Date Real Estate Information When You Need It!
Preliminary Monthly Sold Data
February Numbers as of 3/14/2017
(numbers may fluctuate as more homes are marked sold in MLS)
Units Sold:
2,081  down 0.95% from February 2016

Average Sales Price:
$349,205  up  9.52% from February 2016

Average Days on the Market:
72.31  up 2.15  days from February 2016

Median Sales Price:
$284,750  up  9.10% from February 2016
The Week in Review...
Changes in Units for Sale
The Week of March 5 - March 11, 2017

New listings - up 39.67%  compared to the Mar 6 - Mar 12, 2016

Pending listings - up 4.43%

Sold listings - up 28.65% this week compared to the same week last year.

Current Months of Inventory - increased to 2.58 (last week it was 2.50)
Median Sales Price - $279,000 (3/1/2016 - 2/28/2017)
Changes in Price Ranges
Prices for the Week of March 5 - March 11, 2017

Sold average sales prices increased 5.12% to $365,948 this past week compared to the same week in 2016 when we saw an average of $348,130.   Last week (2/26 - 3/4/17) we saw an increase of 11.27% to  $370,217 from $332,709 in 2016.  Sold average prices seem to be hovering between $340,000 - $377,000 with the median sold prices in the $270k range.  

Currently the Total Number of Pending Listings = 4,447 with and average list price of $367,746.  In 2016 there were 4,577 total pending listings with an average list price of $340,635.  That is a 2.84% decrease in the number of pendings with a 7.96% increase in the average price.  Last week we had 4,272 total pending listings with $374,161 as the average list price.  Pending list prices have steadily increased since the beginning of the year from $358,478 (week 1) to $367,746 (week 10).
Updates on Current Inventory
Today there are 7,186 active listings on the market which is a 12.60% increase over the number active listings from one year ago and a few less than last week (6,946).

Active Listing History:                                                                Weekly Pending History Last Week of January
2017 = 7,186                                                                                 2017 = 872
2016 = 6,382                                                                                 2016 = 835
2015 = 5,868                                                                                 2015 = 787
2014 = 5,421                                                                                 2014 = 712
2013 = 6,107                                                                                 2013 = 662
2012 = 8,184                                                                                 2012 = 558
2011 = 10,246                                                                               2011 = 479
2010 = 10,956                                                                               2010 = 585
How does this affect your listing?  Check out our Months of Inventory report on our website to get all the details by MLS area and price range.  The provider the report in two formats for either copying or printing for your clients.

Click here for the  MLS Area Inventory Report