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March 2016 Market Stats

March 2016 Market Stats

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Negative housing headlines should be read with calm or skepticism, not alarm. National housing trends, like the steady rise in home prices and decline in inventory, should certainly be observed with care, but tracking wider economic conditions is also necessary. Buyers want to get into the market, but unlike the rising-price sales environment of ten years ago, people are not diving headlong into risky mortgages or uncomfortable situations. This carefulness should be celebrated, not feared.

Closed Sales decreased 6.2 percent for single-family homes and 5.9 percent for condos. Pending Sales increased 21.3 percent for single-family homes and 0.2 percent for condos. Inventory decreased 6.6 percent for single-family homes and 1.4 percent for condos.

A research tool provided by the Coastal Carolinas Association of REALTORS®.. Percent changes are calculated using rounded figures.

The Median Sales Price was up 4.5 percent to $196,500 for single-family homes but decreased 2.6 percent to $112,000 for condos. Days on Market decreased 0.6 percent for single-family homes and 13.8 percent for condos. Supply decreased 15.4 percent for single-family homes and 7.3 percent for condos.