For much of the country, the first quarter of 2019 provided several disruptive weather patterns that contributed to less foot traffic toward potential home sales. Coupled with low affordability, higher prices and an inventory situation in its infancy of recovering from record lows – not to mention several more days of wintry weather in April – slower sales persisted across most residential real estate markets. However, buyers are beginning to return in force this spring. For well-priced homes in desirable locations, competition is fierce.
New Listings were down 1.6 percent to 662. Pending Sales increased 7.3 percent to 588. Inventory grew 4.8 percent to 2,403 units. Prices moved higher as Median Sales Price was up 2.4 percent to $319,250.