Cole/Whittier March Market Update

March 31, 2017
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# of Closed Sales: 10

Average Days on Market for Solds: 35

Median Sales Price: $411000

# of news listings: 14

Months of Inventory Last Month: 1

This uncharacteristically warm March is helping to expedite the spring market in Cole & Whittier. February saw 4 more new listings that month than January and it’s a shorter month by 3 days. We’ve currently had 12 new listings so far in March with a few days remaining so I’m certain we’ll either match the listings for Feb or (more likely) exceed and see over 14 listings. The well-priced homes with are still selling in 5 days or less for over list price. I’m quite confident this is something we will continue to see in 2017. Of the 10 properties that sold in Feb, 5 sold in 5 days or less and all but 1 of those properties sold for list price or over with 1614 E 24th Ave selling for 105% list/sold! The February median sales price of $411,000 is slightly lower than the February average sold price of $414,640 and nearly identical to the median sale price for February 2016 which was $415,000. In February my family celebrated our 4th year of living in Cole. I looked back at the median sales price for 2013 which was $271,000 compared to the median for 2016 which was $389,900 and that’s a increase of nearly 44%. Our neighborhoods values are definitely still increasing and as the spring market continues to ramp up I’m sure we’ll see even higher prices headed our way!