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
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Median sales price jumped 15% when comparing May 2014 and May 2015.
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At the end of May 2015 the total number of sales is 8% higher than at the end of May 2014.
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The inventory is down by 3% when compared to this time last year.
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May 2015 home sales were down 1% when compared to May of 2014.
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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.