March 2025 Market Report

First, let's look at the Months Supply of Inventory, which currently stands at 1.66. This indicates that there is a low inventory of homes available for sale, which can lead to increased competition among buyers and potentially higher prices for sellers. 

The 12-Month Change in Months of Inventory is also significant, showing a 31.75% increase. This suggests that the market is experiencing a shift towards more inventory becoming available, which could potentially lead to a more balanced market in the near future.

The Median Days Homes are On the Market is a mere 17 days, indicating that properties are selling quickly. This is likely due to the low inventory levels and high demand from buyers.

The Sold to List Price Percentage of 100.6% shows that homes are typically selling for slightly above their asking price. This further highlights the competitive nature of the market and the willingness of buyers to pay a premium for desirable properties.

Lastly, the Median Sold Price of $510,000 gives an indication of the overall price trend in the market. This figure provides a benchmark for both buyers and sellers to understand the average price of homes in the area.

In conclusion, the low inventory levels, quick sales, and strong sold to list price percentage suggest a competitive market with potential for sellers to capitalize on current conditions. However, the increase in inventory over the past year may signal a shift towards a more balanced market, providing opportunities for buyers to find their ideal home at a reasonable price. It is important for both buyers and sellers to stay informed about market trends and work with a knowledgeable real estate professional to navigate the current market conditions effectively.