Summary
After 10 years of declining inventory, year-over-year listing levels were up through most of 2019. That trend reversed again in the fourth quarter. Last year’s closed sales were even with the prior year. Sales in entry-level markets continue to decline but they have been stable in the middle markets and expanding in the upper price ranges. While the average sale price was up 4%, much of that was the result of more upper-end sales, even though those upper-end values were flat. Price per square foot for sales priced over $250k rose by 2%.
