While inventories continued to fall and limit sales, hungry buyers drove first quarter prices up. Between years 2015 and 2016, the average sale price moved just 4% from $196k to $204k. Comparing the first quarter of 2017 to the first quarter of 2016, while the number of homes sold fell off by 14%, the average sale price was up 13% from $185k to $209k. Sold price per square foot was also up 12%.
March, 2017 Housing Report