# of Closed Sales: 7
Average Days on Market for Solds: 4
Median Sales Price: $399000
# of news listings: 4
Months of Inventory Last Month: 1
While we had less solds and a slightly lower median sales price in March versus February, our neighborhood is still very, very hot. The average sold price per square foot is currently $177/psf.
We are seeing more and more homes in the ‘Coming Soon’ status prior to hitting the market. This typically helps reduce the amount of days the home is on the market before going under contract.
Sellers are definitely still running the show in most situations and are able to negotiate additional time in the home after closing, inspection leverage, etc. However, we are seeing buyers back out of contracts when they feel as though they are taken advantage of. It is important to have a good agent help you navigate the selling/buying waters.
In my opinion, spring hit early with the warmer weather and we have a very active market. My best guess is we will start to see things slow a little in June/July. Here’s to hoping interest rates continue to stay low!