Dear Friends,

The Spring real estate market continued to be busy in May as more houses came on the market to meet buyer demand.

Inventory grew in May as 83 houses came to market, vs 83 this past April, and 74 in May 2014. Inventory levels were 192 units at month’s end, versus 206 last year, and 186 at the end of April.

71 houses went under contract with an average 36 days on market, and 46 closings took place in May. The competition for the small number of listings early in the year was evident as May sales prices were a very high 106% of asking prices.

Buyer traffic is still strong, and there are some new entrants to the market, attracted by more choices.

Do you have specific market questions?

Feel free to contact me directly to discuss.

Best, Rich