Sales dropped in May
Single-Family:
Sales dropped by 19% in May and pending sales fell 32%. Thus may be due to some delayed closings and the small inventory preventing buyer from finding a home to purchase. The average sale price increased 9% while the median sales price was up by 11%. The number of new listings just fell off a cliff down by 42%. The active listings also experienced a sharp decline of 18%. The months of inventory now stands at 1.2 months.
Sales: 92
Average Sales Price: $272,647
Median Sales Price: $261,900
Pending Sales: 77
New Listings: 92
Active Listings: 130
Months of Inventory: 1.2
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