Well, it’s hard to believe that April is upon us! It’s looking like its going to be an early spring since most of the snow is already gone. Is the lack of snow the reason why the market seems to be more active this year? One never truly knows but I think the real risk of rising interest rates is helping drive the market.
Here are the numbers, keep in mind there are a lot of properties under agreement that will be closing that should make Q2 look very good! So, for the first quarter of 2018 there were 9 homes and 6 condo sales to total 15 units. Q1 of 2017 there were 10 homes and 1 condo sold for a total of 11 units. So not a huge jump but a jump. The interesting part is the condo sales. I really don’t have an explanation as to why condo sales were off so much last year. This year it looks like condo sales will have a very good year. I expect that there will be over 20 units sold, if inventory holds up there could be 25 units or more sold. I fully expect that home sales will track last year, even with the lower inventory.
Since the sales numbers are low enough I will wait until Q2 to give you median and average sales prices so the numbers will be more realistic. I can tell you the average sales price will be up!!
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