A lot can change in our market in just a short amount of time, which is why we’re back once again for another real estate update. This time, we’ll cover the statistics from this March.
For one thing, the median sale price has risen by about $7,000 since our last update, leaving us with a current median sale price of $685,000. The average number of days homes are spending on the market, meanwhile, has dropped to just 38.
Housing supply is also still low, but at 2.7 months of inventory, it has still risen slightly since the last update I shared. The number of homes sold also rose, jumping up to 810 in the month of March. Since only 616 homes sold in February, this is a significant change.
Finally, interest rates are down to 4.2%. This is great news for anyone looking to buy, as it means homes are still very affordable. These conditions can change quickly, though, so it’s important that you make a move soon. Now that we’ve moved into May, things have probably shifted slightly already. Activity is definitely on the rise.
The bottom line is that if you’re thinking of buying or selling, now’s the time to make a move. I would be happy to help you pursue your real estate goals, so if you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.