Market Report: May 2015

When looking over the statistics for the sales in May 2015, one could conclude that the market is slowing down.  However, I would argue that this would be an excellent time to list your home.  Here are some important factors to consider:

• 2014 had a slow start to the selling season possibly attributed to the late snowy weather. 
• Inventory is down, as we continue to see properties coming on the market the pace of sales may pick back up. 
• The year to date contracts and sales are still higher than 2014.  
• The year to date and the May median sales price has gone up significantly when compared to 2014.

Highlights

• Median sales price jumped 15% when comparing May 2014 and May 2015.

• At the end of May 2015 the total number of sales is 8% higher than at the end of May 2014.

• The inventory is down by 3% when compared to this time last year. 

• May 2015 home sales were down 1% when compared to  May of 2014.
• May 2015 home sales are up 11% when compared to May of 2013.

• Median sales price jumped 15% when comparing May 2014 and May 2015.

• May 2015 median days on the market is up 18% when compared to May of 2014.

• At the end of May 2015 the total number of sales is 8% higher than at the end of May 2014.

• At the end of May 2015 the median sales price is up 10% when compared to the end of May in 2014.

• The year to date time on the market has gone down by 1% when compared to this time last year. 
  

• The inventory is down by 3% when compared to this time last year. 

• The number of contracts in 2015 is down 16% as compared to May of 2014.

• The 2015 annual pace of contracts is up 11% when compared to 2014.