RMLS Market Report March says: "When comparing March 2011 with March 2010, average sale price went down 12.7%." It's amazing that Clark County, WA has had closed sales grow from February to March of this year. In February there were 274 closed sales and the month of March there were 390 closed sales.
At the current rate of home sales, the 3,227 active residential listings will take about 8.3 months to sell all this home inventory if we didn't list any more homes. Traditionally, if we get below 7 months of residential homes for sale inventory, that might push us into a "Seller's Market." But, of course we will be listing more homes on the RMLS...although new listings are slowing compared to March of 2010. On another note, the average days on market is 160 days whereas it used to be 140 days.
Contact me for more residential home pricing information!