In 2018, our active listings were up only 1.1% from the previous year. At the same time, our sold properties were up by 6.8% from the previous year. Demand was high and supply plateaued, which forced upward pressure on price. This led to an 8.5% increase in the median price in 2019.
The 2019 picture is a little different. Active listings are up by 5.6% from last year, but demand has remained pretty steady at 6.4%. We have nearly the same demand, but we have more inventory. What has that done to the median price? It’s not up by 8% like it was last year, but it is still up by 5.1% year to date.
All of this means that it’s still a phenomenal time to sell a house. We do expect this solid run of rising prices to end soon, so it makes sense to get out now while the market is hot.
You hear a lot of talk between people and the media about what’s going on. If you want clear answers, come to us. We’ll give you the facts about where our market is at right now and where it’s headed. If you have any questions for me, don’t hesitate to reach out and give me a call or send me an email. I look forward to hearing from you soon.