Single-family home sales are still tracking slightly below last year’s pace, while condo, land and commercial sales are ahead. There were 3 homes sold over $1 million last month. And there may be a huge sale in December: the 190-acre Blackstone Ranch is going to be auctioned on Dec. 6, with a minimum bid of $19 million (see the related article posted on our web site).
March 2018 single-family home unit sales were the same as March last year; however, dollar sales were up 3%. Buyer interest continues to increase while inventory remains very limited. March condo sales were up; land sales were down; there were no commercial sales.
Buyer interest in single-family homes continues to increase while inventory remains very limited. The supply of good homes isn’t adequate to satisfy the demand. Homes in preferred locations are selling faster, and prices are rising.