Current Market Demand
Buyer demand is high – Thank you Captain Obvious! The market in May has softened a bit though (down 7%). Demand is strongest for single family homes priced above $950,000 and higher priced condos.
Inventory is low (similar to 2019 levels). There is 0.7 months of supply for mid-priced single family homes and 2.7 months of supply for high priced condos.
Median Sale Price
The median sale price is a 10 year high. It is up $20,000 from April and 11% since March.
Data Source: Bright MLS T3 Home Demand Index