Residential sales throughout the region rose by 12.7 percent last year and, as a result, reached their highest point in four years, according to the HomExpert Market Report by Berkshire Hathaway HomeServices Fox & Roach.
All indicators point to a market on stable footing though not on fire.
Overall, median sale prices increased slightly by 1.4 percent to $215,000 from $212,000 in 2014. Inventory declined by 1.6 percent 49,481 compared with 50,280 at the end of 2014 in a sign that developers appear to be holding back when it comes to new construction. The average number of days a house stayed on the market fell a tad to 75 days from 79 days.
“This is a marked decrease from 2012, when homes stayed on the market for an average of 98 days,” the report said.
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