Looking back over a 10-year period of October 2005 to October 2015, the year-to-date residential market has experienced a 28 percent increase in price appreciation.
According to the October MLS, 5,407 new listings came on the market, while 4,792 homes were placed under contract and 4,332 homes sold and closed. The month closed out with 7,156 active listings – representing a 4.79 percent decrease over the previous month, and six percent more properties than what was available in October 2014. Additionally, homes under contract decreased by one percent, sold listings decreased 16 percent and the total sales volume dropped 14 percent to $1.57 billion from the previous month.
The single family home market saw a seasonal decrease of nine percent in new listings month over month, while the average and median sold prices increased slightly from the previous month at 1.68 percent to $403,795 and 1.76 percent to $346,000 respectively.
The condo market showed the supply of new listings dropped 3.5 percent over the previous month, while the average sold prices ticked up ever-so-slightly by four percent to $263,362 and the median price increased 1.54 percent to $214,500.