Sales continued in the dumps for March. Down 15%. The average sales price remains positive being up 8% but this increase, as in previous months, is causes by larger than normal sales in the $400,00 to $900,00 price range. All other price ranges show declines in sales. The median sales price declined by 2%.
The number of new listings declined by 11% helping to keep the active listings flat.
The pending sales number was down by 13%.
The number of homes being shown has picked up. Now if these potential buyers just turn out to be real buyers maybe next month I'll have some positive news to report.
Rentals remain strong up by 20% as people continue the trend of renting instead of buying. The number of homes being rented is out stripping the supply allowing landlords to raise rents.
If you are trying to decide if you should rent or buy, go out to any of the buy verses rent calculators on the web and check it out. I think that in the vast majority of cases you will find that it is better to buy than rent.
Sales: 5,286
Average Sales Price: $197,980
Median Sales Price: $140,000
New Listings: 12,068
Active Listings: 36,828
Pending Sales: 5,905
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