Highlights from our monthly reports

 Here are a few bullet points with items of note from our latest monthly reports:

• 3 bedroom / 2 bath (3/2) single family homes sold at a 19% premium over list price in 19 days which is well above the premium in February and March which was 10-11% and 30-35 DOM respectively

• 2/1 single family homes were right behind in terms of premium:  115%, the range it’s been in since February

• These two categories of single family homes (2/1 and 3/2) represent approx. 36% of total single family home sales in April; in March it was 35%.

• Average selling prices for 1/1 condos has been creeping up each month so far this year from $724k in January to $751 in April.  Premium similarly has increased from 96% in January to 102% in April.

• The number of sales of 2/2 condos jumped in April to 78.  The previous three months had averaged 45.

• These three categories of condos/TICs (1/1, 2/1, and 2/2) represent 56-72% of all sales in the last two months.

• Annual average selling price for a two-unit building has declined for three years in a row.  So far this year the average is $1.928k vs $2.221k in 2021 which was the highest we’ve recorded since 2007.

• Same story for three-unit buildings.  So far this year the average is $1.647k vs $2.201k in 2021.  The highest average sales price was $2.328k in 2018.

• For four unit buildings so far this year the average is $1.980k, up from last year’s $1.882k.

• 2/1 single family homes so far this year have an average selling price of $1.221k, up from last year’s $1.180k.  The high was $1.339k in 2021.

• Same story for 3/2 single family homes which so far this year have an average selling price of $$1.681k, up from last years $1.553k and less than $100k off the all time high of $1.773k in 2022.

• For 1/1 condo/TICs so far this year the average selling price is $749k, up compared to last year’s $708k which was the forth year in a row of declining average annual sales prices.  The high $871k was achieved in 2019.

• For 2/1 condo/TICs the average selling price so far this year is $1.059k, up compared to last year’s $1.011k.  The high was $1.174k in 2019.

• For 2/2 condo/TICs this year’s average selling price so far is $1.261k which is down compared to last year’s $1.293k. If this trend continues this year will be the third in a row of declining average annual sales prices.   The high was $1.463k in 2019.

• Total residential sales in April (452) was up 20% compared to March but is well shy of April sales in both 2021 and 2022 (715 and 609 respectively).  However, April sales this year were much more in line with pre-pandemic numbers.