March 2024 Market Report 95864

The real estate market is currently experiencing a tight supply with a low Months Supply of Inventory at 1.09. This indicates that there are fewer homes available for sale relative to the current level of demand. The 12-Month Change in Months of Inventory has decreased by 22.7%, showing a trend towards even lower inventory levels.

Despite the limited supply, homes are selling relatively quickly with a median of 59 days on the market. This suggests that there is strong buyer interest and competition for available properties. Additionally, the List to Sold Price Percentage is high at 97.9%, indicating that sellers are able to command prices close to their asking prices.

The Median Sold Price in this market is $1,150,000, reflecting a healthy and robust real estate market with strong demand and limited inventory. Buyers should be prepared to act quickly and competitively, while sellers can expect to receive offers close to their asking price. Overall, this data suggests a seller's market with favorable conditions for those looking to sell their property.