Even with decreased affordability, lower inventory, and tightened mortgage rules, sales & prices last month managed to register positive year-over-year growth.
April’s sales momentum has spilled over into May as activity in the first week reached the highest levels since 2007.
Single family home (SFH) sales were up 5.42% y/y while condo sales were up 20%.
Twenty percent of the SFH sold did so at list price or over. That ratio was a little lower for condos with 16.7% selling for list price or above.
Twenty-one properties have sold for a million or over month-to-date compared to 25 during the same period last year. May 2012 holds the record for highest luxury sales sold in a month with 80.
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