“March sees large number of listings hit the market” -> The market asked and the people listened!
This has been a very interesting and busy market. Seeing hard working families realize and extract equity from their current homes, paying off debt, and restructuring their finances has been rewarding. Yes, it is difficult to find an affordable home at the moment, however there is tons of optimism moving forward into the months and years ahead.
For March, single-family home unit sales are up 21.2% from March 2021 and up 37.7% from February 2022 at 1,920. Condo unit sales increased 67.1% from March 2021 and were up 62.9% from February 2022. Duplex/rowhouse unit sales were up 54.2% year-over-year and increased 45.1% month-over-month.
All residential listings averaged 34 days on the market, decreasing by eight days year-over-year and down 13 days as compared to February 2022.