The market for buyers in many market segments under $400,000 is extremely competitive, especially for “move-in ready” properties. Buyers should be prepared to enter into multiple offer situations and discuss offer strategies with the agents prior to presenting any offers.
This shows a decrease in the number of sales of 127 homes or -7.6%. The median sale prices saw a 12.7% increase year-over-year. There are currently 178 homes on the market with an average marketing time of 92 days. This results in a 0.9-month supply of homes in inventory, which is a significant shortage relative to historical supply demand relationships in this market. Please note that the average marketing time of active listings is significantly above the average for closed sales in the prior 12 months.
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We continue to see the shortage of homes available be a significant factor in our market. Overall sales volume remains below 2024, though appreciation remains strong.
We continue to see the shortage of homes available be a significant factor in our market. June showed stronger sales volume than the prior year, but year-to-date sales volume is still down 12.0%. Appreciation remains strong. Also, while we are seeing inventory creep up, we have not experienced any of the significant increases seen on the national level.
We continue to see the shortage of homes available be a significant factor in our market. Total sales volume year-to-date is down 15.4%. While year-over-year appreciation remains strong and well above typical, FHFA reports we saw a 0.8% decline during Q1 of 2025.
Multiple-offer situations have become extremely common at price points below $350,000 and buyers should be prepared to make offers above asking price and take consideration on what contingencies are being requested. This is being driven by the significant shortage of homes available.
We continue to see the shortage of homes available be a significant factor in our market. First Quarter sales were down from 2024, though within the range of volume over the prior 5 years.