Year to year averages for the month of October:
Total Market (Single family and Condos)
Median Sales prices increased 10.5% to $315,000 while the average price was $381,298 , which was also up 7.8%. The list to sale price ration was 98.9%, while the days on market was 53, down 11.7%. Demand remained static with total sales (YTD) at 95,439 from 94,231 in 2015. Next month one should see a bump in demand as 2016 pending sales are up 3.4% with 102,980 compared with 99,660 in 2015.
Other items to note was the large rise in average sale price of condos up over 13.5% due largely in part to the lack of new supply in the market place. With demand remaining steady and Months supply increasing one should see a slowdown in median and average sale prices.