Spring Market Blooming Despite Ongoing Inventory Shortage and High Prices

Front Porch Of Resedential Home With Autumn Decorations

The number of closed single-family home sales were up more than two percent over March 2016, with median price also seeing a hike. This is despite the month seeing the lowest number of homes for sale since MAR began recording the data in 2004. Condominium sales and price also rose over last year. 

Read more in the full March 2017 Closed Sales Release.

  • March single-family home sales went down 2.1% over last year (3,615 sales in 2017 from 3,540 sales in March 2016)
  • March single-family median prices went up 6.6% year-over-year (to $350,000 in 2017 from $328,375 in March 2016)
  • March condo sales went up 11.3% and median prices went up 8.2% (to $334,950)
  • Inventory in March went down -34.4% to 11,892 and condominiums available down -30.8% to 3,478
  • SF listings added to the market in March went down -13.5% over last year. (7,180 from 8,300 in 2016)
  • Condo listings added to the market went down -7.0% over last year. (2,785 from 2,995 in 2016)