The seller’s market added more new listings to the mix but prices keep rising. Prices hit an all-time high in May with the average priced home in the metro area breaking $402,500 for the first time ever.
This localized home inventory report helps give context to the metro statistics that often make headlines. Real estate is a local affair and this report shows which parts of town and which types of properties are selling and which ones are sitting. Inventory is figured in months with 6 months being balanced, less than 6 months favoring sellers and more than 6 months favoring buyers. I use active listings and 6 months of sold data from the RMLS to create this report.