March 2017 Real Estate Report

April 3, 2017 8:36 pm Published by

The hot area of the market during the month was the entry level class of homes priced in the $200,000 to $300,000 range. Million dollar plus properties weren’t ignored however as I read a news report today that stated 33 properties priced over $ 1 million sold in the first three months! Wow, this is the most in the premium class over the last four years. My sense is that some confidence is returning to the market and Buyer’s in all price ranges are taking advantage of good value.

Have prices bottomed out? Maybe the average Single Family home was $439,139 up 3.0% over February 2017. Also up month over month were Duplex/Rowhouse at $348,806 (+0.41%) and Condo’s at $242,632 (+3.86%). Year over year, Single Family home prices are only up +0.49%, Duplex/Rowhouse +3.2% but Condos  are down -3.11. While the Condo prices might reflect an overall decrease year over year, sales increased 11.48% over last year. This is good news for Condo sellers who have seen the average Days on Market decrease from 74 days to 67.

As we roll into the month let’s hope for April showers to avoid the 2016 dryness and a balanced Real Estate market!

As always, please give me a call if you have any questions or if I may be of some service.

Cheers,

Chris Keeler

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This post was written by Cat and Chris