04/30/2025
Summary of Condo and Townhome market stats for this month within NSB Board. Looking better than last year as most complexes have completed their state required inspections and special assessments are either levied, planned, or paid so that buyers can be more confident in their purchase and future expenses:
Closed sales increased to 36 in March 2025, up 56.5% from 23 in March 2024.
Year-to-date closed sales reached 97, reflecting a 76.4% increase.
Closed sales in February 2025 were 34, showing a 100% increase from the previous year.
Cash Sales
Cash sales rose to 22 in March 2025, a 46.7% increase from 15 in March 2024.
Year-to-date cash sales totaled 69, up 76.9%.
Cash sales in January 2025 were 22, marking a 120% increase year-over-year.
Median Sale Price
The median sale price in March 2025 was $364,500, a slight decrease of 1.2% from $369,000 in March 2024.
Year-to-date median sale price is $375,000, reflecting a 1.6% increase.
The median sale price in February 2025 was $388,250, showing a 19.5% increase.
Average Sale Price
The average sale price in March 2025 was $489,460, a significant increase of 23.2% from $397,326 in March 2024.
Year-to-date average sale price is $451,863, up 4.6%.
The average sale price in January 2025 was $389,496, reflecting a 28.6% increase.
Dollar Volume
Dollar volume for March 2025 reached $17.6 million, a 92.8% increase from $9.1 million in March 2024.
Year-to-date dollar volume is $43.8 million, up 68.2%.
February 2025 dollar volume was $15.7 million, reflecting a 79.7% increase.
New Pending Sales
New pending sales increased to 41 in March 2025, a 36.7% rise from 30 in March 2024.
Year-to-date new pending sales totaled 113, up 34.5%.
February 2025 saw 36 new pending sales, marking a 28.6% increase.
New Listings
New listings in March 2025 totaled 65, a slight increase of 1.5% from 66 in March 2024.
Year-to-date new listings reached 230, reflecting a 25% increase.
February 2025 had 70 new listings, showing an 18.6% increase.
Inventory Active Listings
Active listings at the end of March 2025 were 361, up 58.3% from 228 in March 2024.
Year-to-date average inventory is 358, reflecting a 77.8% increase.
February 2025 had 366 active listings, an 83% increase.
Months Supply of Inventory
Months supply of inventory in March 2025 was 12.6, a 70.3% increase from 7.4 in March 2024.
Year-to-date monthly average is 13.1, up 118.3%.
February 2025 had a months supply of 13.3, reflecting a 125.4% increase.
Distressed Market
No closed sales were recorded for foreclosure/REO or short sales.