MAY HOUSING INDICATORS

New Listings had another month of significant gains year-over-year. Closed Sales and Days on Market were flat. Median and Average Sales Prices marked an increase. YoY Inventory levels saw significant gains in May. Click here to read the full update for May, including our Housing Supply Overview.

New Listings increased 20 percent to 18,762
Pending Sales decreased seven percent to 11,058
Closed Sales decreased one percent to 12,249
Days on Market stayed flat at 38 days
The Median Sales Price increased three percent to $370,000
The Average Sales Price increased four percent to $450,168
Inventory levels increased 48 percent to 33,269 units
Months Supply of Inventory was up to 3.3 months

Price reductions are happening more often with days on market at 38 average. If you would like to get the most equity from your current home, selling now is something to seriously consider. Yes, interest rates are high, but you can always refinance and prices in our market show no sign of slowing.