Along with our overall economy, the Mountain Area housing market continues to improve. In April we sold, through our local MLS, 40 single family residential properties, the same as last year. The median price was up 24%, from $165,700 to $205,000 -- but one month does not a trend make. For the six months period ending April 30, the median price was $182,000 compared to $165,000, or up by 10%. Prices for the past three months were up were up 11%. April was the eighth consecutive month with median prices above those of a year earlier.
Inventory is still low and the number of prospective buyers is increasing, thus the upward trend in prices. It is a buyers' market, but moving gradually toward equilibrium. It's still not a great time to sell, but a better time to sell than a year or two ago. For a free comprehensive market report, send an email request to firstname.lastname@example.org.
Ed Bailey, Lic. 01479711, Broker/Manager