home market remains strong from April 2016:
- 4781 homes sold,
- 14.4% up from last year
- 41.7% above 10-yr average
- highest selling April on record
- 6,127 new listings in april
- 4% increase form last year
- 7,550 actives
- down 39% from last yr
- 2.6% increase from last mnth
- residential properties $844,800 benchmark pricing
- 25% increase over last year
- 30% incresae in detached
- 21% incrase in condos
- 22% increase in townhomes
- demand divided by supply
- 4781 solds vs. 7550 total active listings = 63% sales to active listing ratio…truly a seller’s market
- downward pressure on home prices when this ratio falls under 12%
- upward pressure on home prices when ratio is 20% or more
