While March experienced a decrease in home sales compared to the same period last year and the average of the previous five years, the first quarter of 2024 saw an overall increase compared to the previous year. Despite challenges in the market, there’s optimism for a continued positive trend in home sales, prices, and activity moving forward into the spring season.
March Home Sales:
Total homes sold: 596 via the MLS® System of WRAR.
Compared to the same period last year: Decrease of 3.2%.
Compared to the average of the previous 5 years for the same month: Decline of 33.4%.
First Quarter of 2024:
Saw an increase in home sales by 8.0% compared to the previous year.
However, these figures still fall short of the first-quarter sales of the past decade.
Market Conditions:
Challenging market conditions noted.
Despite record low March sales in over two decades, there’s a positive trend observed.
Prices and activity have started to pick up over the past three months.