The following update reflects numbers through May 31, 2018, along with previous years through the same date for comparison. A few highlights from the table below are summarized here:
- Number of transactions is down from 2017 (and now 2016) but still higher than 2014 and 2015
- While median sold prices are down, the median sold $ / sq ft is up 6% vs. 2017 at $357 / sq ft
- Some of the decline in the overall sale prices is driven by the fact that it has been smaller homes selling (the median size has dropped more than 20% in 2018 vs. the same time in 2017)
- Median days on market of 29 days still indicates strong demand in the neighborhood
The real story so far in 2018 is the decline in active listings. The neighborhood is following the same trends as the last couple of years, but at much lower levels of inventory. Whereas in 2016 and 2017 monthly active listings through May averaged 27, in 2018 that number has dropped to 16, a decline of more than 40%.
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