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Home sales were 20.5% above the five-year average and 40.3% above the 10-year
average for the month of March.
The average price of homes sold in March 2022 was a record $350,655, up by
24.8% from March 2021.
The number of new listings fell by 17.2% from March 2021. There were 365 new
residential listings in March 2022.
New listings were 1.8% below the five-year average and 14% below the 10-year
average for the month of March.
Active residential listings numbered 285 units on the market at the end of March, a
sharp decrease of 41.1% from the end of March 2021. Active listings haven’t been
this low in the month of March in more than two decades.
Active listings were 62.3% below the five-year average and 75.9% below the 10-
year average for the month of March.
Months of inventory numbered 1.1 at the end of March 2022, down from the 1.5
months recorded at the end of March 2021 and below the long-run average of 7.6
months for this time of year. The number of months of inventory is the number of
months it would take to sell current inventories at the current rate of sales activity.
