For May sales were off by 5% compared to last May. The average Sales price was up by 2 % while the median sales price declined by 2%. The number of new listings contracted by 13%. The number of active listings dropped by 4% helping to keep months of inventory at a relatively low level of 5.3 months.
The real problem was the sharp contraction of 33% in the pending sales. This does not bode well for next months sales.
Sales: 254
Average Sales Price: $251,403
Median Sales Price: $215,000
Pending Sales: 157
New Listings: 397
Active Listings: 1.292
Months of Inventory: 5.3
