While the condo market has changed little since a year ago, there’s been a marked increase in pending Single Family home sales – particularly in the $500,000 to $1 million price range.
New construction continues to compete with resale homes, with builders and developers offering attractive incentives. Often these incentives can be negotiated when buying a new home. Buyers are urged to have Realtor® representation when visiting new home communities. See why here!
- The number of overall closed sales, including single-family homes and condos, for 12-month ending February 2017 was 2,891 units as compared to 3,104 units for 12-month ending February 2016, down 7 percent.
- Pending sales for February 2017 were up 2 percent with 3,048 units versus 2,989 units compared to February 2016.
- The days-on-market increased 33 percent to 100 days from 75 days in February 2016.
- Inventory was at 6.4 months as of Feb. 28, 2017, with 1,862 units of of single-family homes and condominiums currently listed. Read more here.