The monthly May PAR stats are now available:
HIGHLIGHTS
- May sales are up from last month but down from last year with 881 units sold. Last month 822 units sold. Number of sales Y-O-Y was Down 5.8%.
- Cash buyers represent 24% of all residential sales in our area. This is down from 25% last Month.
- May average "day on market" is Down from April at 63 days to: 53 Days.
- Average sold price is $394,787, this is Down from the prior month and from up 3.3% May 2023 Y-O-Y, $382,016.
- May inventory is up month over month to: 3205 units, up significantly from May 2023, with 176 units. Y-O-Y increase in inventory of 81%!
- Months inventory is 3.6 months, down from April 3.7 months, but up from May 2023 with 1.9 months inventory.
- Average List to sold price difference in May was -2.8% unchanged from -2.8 % in April.
- The inventory of homes remains low with 3.6 months inventory, this level is considered a weak seller's market. When Months Inventory is generally less than 4.0 months it is considered a seller’s market.6.0 months or more is a buyer's market. Between 4 and 6 months inventory is a neutral market.
