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April 2006: Market Update

Posted April 15th, 2006 under market updates.

April has been a steady month for sales, with total numbers just behind this time last year. The overall sales-to-listings ratio is about 48%. This is a more balanced ratio than the 72% of 2001 and 2002, which indicated a seller's market. Generally, a ratio of around 50% to 55% indicates that prices are keeping pace with inflation.

I predict a stable market with little rise in prices for the rest of this year, with a return to the 50%-55% range by year end. These are excellent conditions for making a move, including first-time purchases.

Want to know more about the state of the market? Just ask me, I'll be happy to help.