For the Single Family Dwelling market listings have been up slightly from ’04. In January we started off slowly with listings off 8.8% from ’04. In February we were down again by 10.2%. In March the Sellers finally got motivated and brought 7.4% more Homes to the market followed by a very robust rise in April posting a 16.3% gain from ’04. Then finally in May we were up again 9.8% from ’04.
So, what about the prices of these new listings? In January we saw a 21.6% increase in Median Asking price. In February it was a 13.7% increase, in March the Median Asking price zoomed up 35.9% from the March ’04. Then in April the most amazing thing happened, the Median Asking price actually went down 7.8% from ’04 dropping the price from $1,300,000 in April ’04 to $1,199,000 in April ’05. But in May we again saw a rise of 11.7% from ’04 to $1,395,000.