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March 2024 Market Stats

U.S. existing-home sales improved for the second month in a row, jumping 9.5% to a seasonally adjusted annual rate of 4.38 million units, exceeding economists’ expectations and marking the largest monthly gain in a year, according to the National Association of REALTORS®(NAR). The rebound in home sales comes amid fluctuating mortgage rates and elevated sales prices, indicating there is plenty of buyer demand heading into the spring selling season.

  • New Listings were up 5.0 percent to 379.
  • Pending Sales increased 11.7 percent to Inventory grew 28.6 percent to 958 units.
  • Prices moved higher as Median Sales Price was up 10.7 percent to $290,000.
  • Days on Market increased 18.6 percent to 83 days.
  • Months Supply of Inventory was up 23.3 percent to 3.7 months, indicating that supply increased relative to demand.