There was an upward bump in new listings just prior to Easter, but inventory has declined since that seasonal activity. Houses that show well and are priced correctly have been selling quickly. New listings are down 10% and pending sales have increased 4%, with a decline of 7.2% in inventory.
Median Sales Price have been increasing and the luxury home market is selling. Percent of List Price Received continues to hover at 96%. Months Supply of Onventory continues its downard slope from a little over 8% in 2015 to 7% in 2016 and 2017 is just over 6%.
Although there is a mounting amount of buyer competition during the annual spring market cycle, buyer demand has not abated, nor is it expected to in the immediate future. What does this mean for…
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