Real Estate Advisor-June '17 Market Report ~Courtesy of Land Title Guarantee CO.
Market Analysis % Change Year over Year 2016 vs 2017: Monetary volume ($126,580,300) in May 2017 was 10% higher than May 2016. Transactions (197) were flat to May 2016. YTD 2017, monetary volume is up by 25% and transactions are up 11% compared to YTD 2016.
Comparative Historical Cost Analysis: -Average Indicators for $: Single Family +22%, Multi- Family +13% and Vacant Land +2%. -Median Indicators for $: Single Family +31%, Multi- Family +11% and Vacant Land -3%.
Luxury Market Surges to new highs; -YTD 2017; 127 properties sold for a $1M and over. -YTD 2016; 88 properties sold at $1M and over. -YTD 2015 55 properties at $1M and over. That’s more than double in two years!
Time on Market; Demand is in a frenzy as median days on market has plummeted again; it was 25 days for December 2016 and only 9 days in May '17. If you see something you like you need to make an offer NOW!