Market Report: December 2016

December marks the end of a strong year in real estate sales.  We saw a lot of sales despite the inventory being low for most of the year.  Median sales price increased by $7,500 when comparing 2016 and 2015.  Some of that inflation is likely correlated with a lack of inventory.  However, the market overall seems to be improving healthily as more buyers are feeling secure enough to buy houses. 

Highlights

• ​There were 11% more sales in December of 2016 than December of 2015.
• ​The median sales price is 11% higher when comparing December of 2016 and December of 2015.

​Full Year Highlights

• There were 14% more sales in 2016 than 2015.
• ​The median sales price was 4% higher in 2016 than 2015.
• There were 12% more contracts in 2016 when comparing it to 2015.