Spring is here, which means this is the time of year where we see the most listings come one the market at one time.  Fall is another spurt, but there’s something about the thaw that brings people the moving idea all at once.  In a market where inventory is low, this is a blessed thing.  In a market where inventory is high and buyers are few, it may not have a tremendously positive effect.  It doesn’t have to be a bad thing.  But if you are selling a home in peak season, you just have to make certain it is priced competitively, staged well, and marketed properly.  Remember, people are always buying and selling houses regardless of the economic forces at play. 

Not surprisingly we saw a boost in inventory during March.  On March 1, 2008 there were 5922 single family homes for sale, and on April 1, 2008 there were 6222.  Normal stuff.  Condo actives grew from 1776 to 1816.  Average listing price went up a bit for each category.  March 1, the average list price was $428,716 and by April it was $432,920.  Condo list price increases were even less obvious.  $336,155 in March to $336,506 in April. 

A nice sign was paralleled increase in sold figures.  358 Single family homes sold in February, and 467 sold in March.  Condos were up as well; 66 sold in February to 81 in March.  Single family sold prices went up as well.  In February, 2008, the average home sold price was $297,111 and March’s figure was $325,832.  While this doesn’t constitute a turnaround in our market, it’s nice to see steps in a positive direction.  While single family homes saw an increase in sold prices, condos dipped a bit.  February saw an average of $266,759 and March settled in at $224,707.  Again, these statistics need to be looked at over a much longer period of time to make accurate judgements.

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