Single-Family Homes Update
Single-family home sales totaled 6,583, up 3.1 percent from April 2016, when it was 6,387. The median price rose 4.6 percent to an April high of $228,000. The average price climbed 4.7 percent to $291,770, also a record high for an April.
Days on Market (DOM), or the number of days it took the average home to sell, declined slightly to 55 days versus 56 last year. Inventory rose from a 3.6-months supply to 4.0 months, matching a level not seen since August 2016.
Broken out by housing segment, March sales performed as follows:
- $1 - $99,999: decreased 34.5 percent
- $100,000 - $149,999: decreased 11.4 percent
- $150,000 - $249,999: increased 4.8 percent
- $250,000 - $499,999: increased 11.3 percent
- $500,000 - $749,999: increased 3.5 percent
- $750,000 and above: increased 15.8 percent
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