So What’s Happening to Realtor Commissions & the Housing Market

Overall, March produced mixed results. Total availability inventory dropped slightly to end the month at just (303). Of these, (209) were New Homes, which declined by (15). However, the number of Resales increased again to end the month with (94). That’s an increase of (13) and up significantly by (32) in just the last (2) months. It is the start of Spring though, so no alarm bells are ringing for Sellers. However, more Resale homes is welcome news for Buyers.

RESALES: ​

In February, the concern was that the number of homes Sold declined, yet this was offset by the Average Sales Price increasing. March results turned this completely around, and were witness to the exact opposite results. Prices dropped to their lowest 4-month running average, while the Average Price Per Square foot increased to its highest. In addition, the running average of homes Sold reached its highest level and the “Months of Supply” was the lowest. 

NEW HOMES:  ​

It was all good news for the New Homes. Available inventory remained constant at a reasonable level.  The Average Sales Price increased significantly by 6.7%. The Average Price Per Square Foot increased and is in line with the 4-month rolling average. The total number of homes Sold equaled February’s high. The Months of Supply ended the month down 27% compared to the rolling average. However, good news for the New Homes only means greater competition for the Resales!