The beginning of the 2nd Quarter indicates housing demands continue for our area.  The Median Sales Price for April increased by 23% as compared to April of last year and over 2% from the month of March, 2022.  This increase was also reflected in the Median Price per Square foot which grew by 27% from last April and nearly 5% since March 2022. Days on Market remained the same year-over-year but dropped by 7% in April 2022. 

While inventory continues to be tight, the recent .5% increase in interest rates will impact the cost of housing but according to an article recently released by NAR some experts predict that the sale of moderately priced homes won’t slow down just yet.   

realMLS – Keeping you In The Know®