We've just published our monthly report of sales in March and, confirming what we've noted anecdotally that compared to a year ago inventory is way down, the number of properties selling is up, and therefore prices are up significantly.The detail is available on our web site (PDF file).
Overbidding is rampant -- last month the average sales price of a 2 bedroom, 1 bath single family home was 14% higher than the listing price. Some of this can be explained by deliberately setting the listing price lower than market value. But mostly it comes down to many more buyers chasing fewer properties.
Also on our web site is our quarterly report tracking the same five configurations of single family homes and condos. One point, -- the average selling price of a 2 bedroom, 1 bath condo has been higher than the average selling price of a 2 bedroom, 1 bath single family home during each of the last five quarters. Quarterly report (PDF).
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