While the number of sales are down by a small 2% margin (or 35 fewer home sales) to 1616 homes sold, this can be mostly attributable to fewer homes being listed for sale (2263 new listings, down 2.8% from 2017).
The average sales price is up 11% to $888,194. The median sales price is $715,000 up by 6.4%. FYI, this includes affordable housing sales and everything in between. And, more houses over $2 million sold in 2018 than ever before.
Days on market is down 12% All of this points to a very strong market, even with other markets nearby and nationally starting to cool off.
| Homes Sold | 1,616 | -2.1% |
| Sales Price Avg | $888,194 | +6.4% |
| Sales Price Med | $715,000 | +11.4% |
| Days On Market | 43 | -12.2% |
Seller’s market or buyer’s market?
3 months of inventory or less = sellers’ market
6 months of inventory or more = buyers’ market
Between 3-6 months of inventory = balanced market
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