Houses Sold: 2,300

Average Sold Price $352,415

Median Sold Price: $335,000

Average Pending: 3,079¹

 

Year to Year Inventory:

May 2020:           5,050

May 2019:          13,331

Change:                -38%

 

Inventory Accumulation¹

May 2020: 2

May 2019: 3.9

 

Average List Price

May 2020: $370,373

May 2019:  $355,581

Change:   +4%

 

New Listings

May 2020: 3,628

May 2019:  4,056

Change:  -89.44%

 

Mortgage Rates Reach All-Time Low

The size and depth of the secondary mortgage market is helping to keep rates at record lows. These low rates are driving higher refinance activity and have modestly helped improve purchase demand from their extremely low levels in mid-May. While many people are benefitting from low mortgage rates, it’s important to remember that not all people are able to take advantage of them given the current pandemic.

 

Mortgage Rate Change April to May

30-Yr FRM        .08%

15-Yr FRM        .15%

5/1-Yr ARM      .01%