Spring 2020

Overview

The 2020 first quarter residential market shows a decrease in prices
and transactions, along with a minimal increase in average days on the market. Data shows a total of 2,397 closed sales in this quarter,
representing a -27% decrease from last quarter. The average days on
market was 31 days, which is eight days more than last quarter. On
average, homes sold for $235,774, which is a decrease of $4,639
from last quarter.

 

“The temporary softening of the real estate market will likely be followed by a strong rebound once the economic ‘quarantine’ is lifted, and It’s critical that supply is sufficient to meet pent-up demand.”

-Lawrence Yun
Chief Economist at NAR