| The number of homes for sale was drastically down in year-over-year comparisons, along with days on market and months of supply. Unemployment rates remain low, wages improved and, as the year waned, we completed a contentious presidential election and saw mortgage rates increase, neither of which are expected to have a negative impact on real estate in 2017.
• Single Family Closed Sales were up 12.2 percent to 6,492. • Townhouse-Condo Closed Sales were up 7.5 percent to 1,968. • Adult Communities Closed Sales were up 11.0 percent to 644. • Single Family Median Sales Price increased 1.7 percent to $295,000. • Townhouse-Condo Median Sales Price increased 2.0 percent to $250,005. • Adult Communities Median Sales Price increased 7.7 percent to $172,250. The overwhelming feeling about prospects in residential real estate for the immediate future is optimism. Real estate professionals across the nation are expressing that they are as busy as ever. There are certainly challenges in this market, like continued low inventory and higher competition for those fewer properties, but opportunities abound for hardworking agents and diligent consumers. 2015 2016 Change New Listings 5457 5856 +7.3% Pending Sales 4307 4923 +14.3% Closed Sales 5785 6492 +12.2% % of Px Rcvd 95.9% 96.6% Days on Market 83 84 -9.7% Homes for Sale 41197 33067 -19.7% Months Supply 7.4 5.2 |