First Quarter Real Estate Market Update

You have heard the news and it is true. The market is moving!

Showings were up 12% in March,

Overall, inventory levels are down 15%. Re-sale inventory is down 26% but new home inventory is actually up 21%. New construction is trying to make up for the shortfall in the market,

At the same time, listings were up in the first quarter so it is better than you have been hearing about,

As you would expect, pending sales are up! They were up 13% in March alone,

Average Days on market are about as low as they can go at approximately 60 days,

Average prices are up! Overall, they are up about 7%.

For more detailed information on each market segment in the area, visit Real Estate Experts and click on the different areas on the heat map for reports on each market area.