“With demand increasing, we are seeing a lot of competition among buyers for available properties,” said Tom Heany, president of the Seacoast Board of Realtors. “Since inventory seems to be growing at a slower rate than demand, I foresee that competition for well-priced homes will only continue. It’s a situation that favors sellers, since competition will likely lead to increasing prices.”

The Seacoast Board of Realtors, which tracks 13 communities in the region, reported a new monthly record for single-family home sales and “a remarkable” third-straight month for condo sales.

Yearly sales volume for single-family homes is up 4%, with median sales prices holding steady at $340,000. Condo sales volume has surged 30 percent, with median sales price increasing 7.3 percent for the year, to $225,500.

Meanwhile, the Board reports inventory levels at a three-year low for both single-families and condos, with condo unit inventory down 10% from last month, now 224 units.

News Source: Seacoast Online

Image Credit: Doug Kerr

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