A shift to a balanced market in some product categories!
Wed, 08 MayApril 2019 market stats are in and we are looking a little more positive than the past months. Inventory levels are now in a balanced market position for 3 categories: All Residential, Single Family Dwellings and Duplex/Rowhouses.
So here is the run down. Average prices for all residential is down 2.6% year over year, but up 1.7% month over month. Single Family Dwellings are down 1.4% year over year but only a slight increase of .1% month over month. Condos are still struggling, but have a more promising outlook this past month. Their average price was down 10.1% year over year, but UP 7.2% month over month. This category is still favoring a buyers market at 7.4 months of inventory. Duplex/Rowhouses are up .4% year over year but down .9% month over month, so their prices have stayed pretty flat!
So although our spring has been delayed in coming, the market is showing signs of new growth!!