Dip in Closed Home Sales for Month of May as Median Prices Hit All-Time High

Front Porch Of Resedential Home With Autumn DecorationsToday both single-family and condominium saw a slight dip in sales in May from last year. Despite the drop, median home prices for both single-family homes and condominiums hit new all-time highs. Inventory also reached the lowest level for the month of May since MAR began recording the data in 2004.

Read more in the full May 2017 Closed Sales Release.

  • May single-family home sales went down -2.3% over last year (4,930 sales in 2017 from 5,047 sales in May 2016)
  • May single-family median prices went up 9.2% year-over-year (to $385,000 in 2017 from $352,700 in May 2016)
  • May condo sales went down -0.3% and median prices went up 7.9% (to $369,950)
  • Inventory in May went down -30.6% to 13,918 and condominiums available down -26.3% to 3,876
  • SF listings added to the market in May went up 4.1% over last year. (8,968 from 8,611 in 2016)
  • Condo listings added to the market went up 9.8% over last year. (3,125 from 2,846 in 2016)