2019 Overview

The residential market overall shows positive change from Q2 of this year and Q3 of 2018. Data shows a total of 3,935 closed sales in this quarter, representing a 2% increase from last year and a 6 % increase from last quarter. The number of signed contracts, however, showed no change in comparison to last quarter. Houses on the market showed a significant increase between last quarter and last year, rising by 1,637 and 1,228 listings respectively. The average days on market was 19 days, which is 5 days fewer than last quarter. On average, homes sold for $247,848 – an increase of $14,871 from last year.

“Borrower equity rose to an all-time high in the first half of 2019 and has more than doubled since the housing recovery started. Combined with low mortgage rates, the rise in home equity supports spending on home improvements and may help improve balance sheets of households who could take out home equity loans to consolidate their debt.”

-Frank Nothaft
Chief Economist for CoreLogic