April is almost here so it’s time for our 2016 1st QTR Market Recap. As expected, sales have picked up and inventory has risen. As of March 31, there are 22641 homes actively listed–of those, just 637 (three percent) are distressed (bank owned, short sale, auction or pre-foreclosure). There are 13327 pending sales and in the past three months there have been 17,953 closed sales. Here is a breakdown of the low, median and high sale for the past quarter:
This graph shows Market Activity YTD:
This graph shows Average Days on Market YTD:
View detailed ARMLS statistics for January and February 2016: ARMLS Jan-Feb Stats 2016
We expect strong sales activity for the next few months with a slow-down from May to August. Mortgage rates fell .125 this week–30YR fixed rate is near 3.83%. With rates still near historic lows, now is a great time to buy! To view past market data, check out our blog. If you have questions about the market, contact one of our outstanding agents. We would be honored to serve your real estate needs!