State’s Home Sales and Median Price Were Up in March

I’m sure many of you are seeing a robust interest from consumers interested in buying and selling homes as the spring season gets underway.

PAR’s monthly housing report shows the spring homebuying market took off in March, with sales, listings and the median sales price all increasing since February.

Home sales surged 23.6% from February to March, hitting 8,790 last month. However, sales are down 10.5% from March last year.

It’s traditional that we see an increase in activity in the spring season, and it is good news that this year, we’re off to a strong start.

The median sales price of homes sold last month jumped to $224,757, up 9% from the previous month’s price of $205,235. The median sales price is also up 10.5% from March 2023.

Houses listed on the market increased 7.6% last month compared to February, reaching 33,233. However, listings are down 11.2% compared to the same time last year.

The additional homes we’re seeing on the market are helping to meet consumer demand.

It’s important for all of us to remind clients of the value of using a Realtor®, whether buying or selling a home. Realtors® provide numerous consumer benefits, including market knowledge, access to listings, negotiation skills, guidance and support, and market analysis. These skills all help to ensure that buyers and sellers each have someone representing their best interests in the real estate transaction.