While key metrics remain down compared to 2022, the current real estate market sentiment is vastly different from what it was just a couple of months ago.
Many buyers are taking advantage of the current landscape and securing deals that haven't been seen in years. In addition, buyers who prepare their properties with the right upgrades, marketing and staging are realizing multiple offers with 54.2% (single family residences) and 31.6% (condos) selling at over list price.
Mortgage rates have also been trending lower for the last five consecutive weeks and are now hovering around 6.28 percent for a 30-year fixed-rate mortgage.
YEAR-OVER-YEAR COMPARISON
SINGLE FAMILY RESIDENCES
MONTH-OVER-MONTH COMPARISON
SINGLE FAMILY RESIDENCES
CHANGE IN PAST MONTH:
SALES PRICE +17.9%
DAYS ON MARKET -2 days
MEDIAN AREA VALUES
SINGLE FAMILY RESIDENCES
Q1 2023
* Denotes small sample size; Use caution when interpreting results.
YEAR-OVER-YEAR COMPARISON
CONDOMINIUMS/TIC/COOPs
MONTH-OVER-MONTH COMPARISON
CONDOMINIUMS/TIC/COOPs
CHANGE IN PAST MONTH:
SALE PRICE -5.5%
DAYS ON MARKET +8 days
MEDIAN AREA VALUES
CONDOMINIUMS/TIC/COOPs
Q1 2023
* Denotes small sample size; Use caution when interpreting results.