All Downtown

$200,000-$399,999

In the last 12 months we saw a slight growth in the inventory with the amount of sales per month declining. There is still under a 4 month supply and it is still a seller’s market. One important fact is that there are currently 62 on the market, but there are 37 in escrow!

$400,000-$599,999

This range is very competitive, especially when it comes to 2 bedroom condos. There is just above a 3 month supply and it is a sellers market. Homes tend to sell very quickly in this range when they are priced correctly. Currently there are only 63 active listings, but there are 41 in escrow! With the current average number of sales per month at 20.67, 41 in escrow will cause a huge jump!

$600,000-$799,999

This segment of the market has the least amount of inventory. The current supply is less than 3 months and there would be many more sales in this range if it had the property inventory. I have a condo for rent that would fall in this range and I have received more calls from potential buyers than I have tenant prospects! It is a great time to sell a home in this range!

$800,000-$999,999

In the last 12 months we have seen shrinking inventory in this segment of the market. There are many buyers out there who have not been able to find what they want in this range so they tend to increase their budget to find what they want or decrease it and settle on something smaller. Good condos sell fast in this range!

$1,000,000-$1,499,999

Last quarter this was the slowest segment of the market with the exception of the “> or = $2,500,000” and things have really heated up in the last 90 days. Last quarter I had predicted the numbers would look very different this quarter, which there was a drastic change. Last quarter we showed growing inventory with only 6 sales in the last 3 months, yet 30 active listings. This quarter there are only 17 listings, 9 currently in escrow and 13 sales in the last 9 months. The numbers suggest that the inventory in this segment is continuing to shrink! It is a great time to sell in this portion of the market, as there are many buyers waiting for the right home.

$1,500,000-$2,499,999

The inventory from last quarter has technically doubled in this segment, but there are still only 8 properties to choose from in this range. In the last 3 months there have been 5 sales, so the property that stands out is selling.

> or = $2,499,999

This range is, without a doubt, a buyers market. There are 9 listings currently active, but there have only been 2 sales in the last 12 months. That means we have a 4.5 year supply! It is a great time to buy in this segment.

*All information is deemed reliable, but not guaranteed. Information obtained through the Sandicor MLS on April 8th, 2015.