A few points of interest in this month’s report are the low absorption rate and the elevated number of pending home sales. With 276 homes on the market, there is little change in our inventory from last month. However, the homes currently under contract jumped from 78 last month to 107 today. Our absorption rate has dropped slightly from last month and sits at 4.7 months. This number continues to be driven by homes under $300,000, while the upper end of the market continues to lag behind a bit.
It seems like we never had much of a slowdown through the winter months and we are already seeing evidence of a busy spring market. We are fortunate to live where we do and looking forward to another great year as a community! Please don’t hesitate to contact us when you have questions or need additional information.