Thursday, April 2, 2020   /   by Nathan Lawrence

March Market Report

Much like the weather, real estate markets are hyper-local... meaning what the market is doing in one state can be completely different than another state. More so, what's happening in one county, one city, and/or one neighborhood can be, and often is, different than another nearby area.

The reason why can be the result of many things: supply and demand, job opportunities, the local economy, school zones, etc.

The coronavirus, at this point, seems to be having a far less effect on our housing market, compared to other areas around the country. While we did see a dip in activity (not prices) towards the second half of March, the overall health of our market looks to be better than most. 

Deciding if now is the best time to buy and/or sell has many factors. Just a few can be your personal finances, short/long term goals, current/future family situation... among many others.

If you're considering buying and/or selling, let's discuss the options. As well as the advantages and disadvantages of waiting vs. not waiting. The best outcome can only be decided when all options and facts are known. 

Summary Statistics
	Mar-20	Mar-19	% Chg	2020 YTD	2019 YTD	% Chg
Absorption Rate	4.36	4.3	1.40	4.33	4.34	-0.23
Average List Price	$357,904	$375,021	-4.56	$320,779	$320,648	0.04
Median List Price	$275,000	$280,000	-1.79	$253,325	$249,000	1.74
Average Sale Price	$244,607	$237,430	3.02	$253,757	$228,036	11.28
Median Sale Price	$232,750	$210,000	10.83	$232,500	$203,850	14.05
Average CDOM	77	69	11.59	72	72	0.00
Median CDOM	35	22	59.09	35	27	29.63

Sold Listings This Month Year to Date 2020 2019 % Chg 2020 2019 % Chg 0-29,999 10 22 -54.5 34 50 -32.0 30,000-39,999 6 11 -45.5 24 29 -17.2 40,000-49,999 8 12 -33.3 22 37 -40.5 50,000-59,999 14 12 16.7 28 33 -15.2 60,000-69,999 9 16 -43.7 29 39 -25.6 70,000-79,999 10 13 -23.1 24 48 -50.0 80,000-89,999 11 12 -8.3 26 28 -7.1 90,000-99,999 7 13 -46.2 23 30 -23.3 100,000-119,999 28 23 21.7 70 63 11.1 120,000-139,999 29 27 7.4 68 85 -20.0 140,000-159,999 27 44 -38.6 76 103 -26.2 160,000-179,999 39 38 2.6 101 101 0.0 180,000-199,999 38 57 -33.3 94 120 -21.7 200,000-249,999 108 116 -6.9 283 264 7.2 250,000-299,999 80 81 -1.2 233 194 20.1 300,000-399,999 110 86 27.9 287 227 26.4 400,000-499,999 33 36 -8.3 88 70 25.7 500,000+ 23 29 -20.7 77 64 20.3 Totals 590 648 -9.0 1587 1585 0.1

Pending Listings This Month Year to Date 2020 2019 % Chg 2020 2019 % Chg 0-29,999 10 5 100.0 26 27 -3.7 30,000-39,999 3 12 -75.0 24 39 -38.5 40,000-49,999 7 15 -53.3 23 41 -43.9 50,000-59,999 8 11 -27.3 26 26 0.0 60,000-69,999 10 13 -23.1 27 40 -32.5 70,000-79,999 11 25 -56.0 32 64 -50.0 80,000-89,999 11 17 -35.3 26 36 -27.8 90,000-99,999 15 8 87.5 35 47 -25.5 100,000-119,999 18 26 -30.8 64 64 0.0 120,000-139,999 22 35 -37.1 86 89 -3.4 140,000-159,999 35 43 -18.6 106 123 -13.8 160,000-179,999 32 31 3.2 102 99 3.0 180,000-199,999 44 56 -21.4 129 156 -17.3 200,000-249,999 86 110 -21.8 301 309 -2.6 250,000-299,999 80 87 -8.0 262 225 16.4 300,000-399,999 68 98 -30.6 295 287 2.8 400,000-499,999 27 40 -32.5 92 120 -23.3 500,000+ 18 32 -43.7 77 94 -18.1 Totals 505 664 -23.9 1733 1886 -8.1

Active Listings This Month Year to Date 2020 2019 % Chg 2020 2019 % Chg 0-29,999 12 17 -29.4 42 51 -17.6 30,000-39,999 12 19 -36.8 42 63 -33.3 40,000-49,999 16 30 -46.7 43 71 -39.4 50,000-59,999 21 31 -32.3 57 66 -13.6 60,000-69,999 26 27 -3.7 61 74 -17.6 70,000-79,999 35 39 -10.3 76 108 -29.6 80,000-89,999 22 35 -37.1 54 78 -30.8 90,000-99,999 42 27 55.6 84 82 2.4 100,000-119,999 59 40 47.5 134 114 17.5 120,000-139,999 97 77 26.0 208 183 13.7 140,000-159,999 111 97 14.4 238 240 -0.8 160,000-179,999 124 105 18.1 264 219 20.5 180,000-199,999 191 128 49.2 358 300 19.3 200,000-249,999 363 275 32.0 779 626 24.4 250,000-299,999 330 281 17.4 658 551 19.4 300,000-399,999 499 417 19.7 920 757 21.5 400,000-499,999 225 189 19.0 369 349 5.7 500,000+ 385 382 0.8 555 538 3.2 Totals 2570 2216 16.0 4942 4470 10.6

New Listings This Month Year to Date 2020 2019 % Chg 2020 2019 % Chg 0-29,999 5 9 -44.4 28 37 -24.3 30,000-39,999 8 11 -27.3 28 46 -39.1 40,000-49,999 5 15 -66.7 22 46 -52.2 50,000-59,999 9 28 -67.9 30 47 -36.2 60,000-69,999 7 14 -50.0 32 41 -22.0 70,000-79,999 9 22 -59.1 27 66 -59.1 80,000-89,999 11 17 -35.3 30 48 -37.5 90,000-99,999 8 13 -38.5 41 43 -4.7 100,000-119,999 27 29 -6.9 80 65 23.1 120,000-139,999 40 38 5.3 108 107 0.9 140,000-159,999 32 64 -50.0 125 150 -16.7 160,000-179,999 39 38 2.6 135 120 12.5 180,000-199,999 58 54 7.4 187 181 3.3 200,000-249,999 144 119 21.0 420 381 10.2 250,000-299,999 112 111 0.9 316 309 2.3 300,000-399,999 140 109 28.4 427 353 21.0 400,000-499,999 66 49 34.7 174 152 14.5 500,000+ 90 70 28.6 223 206 8.3 Totals 810 810 0.0 2433 2398 1.5

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