The MLS 2011 statistics translate an overall positive stand on sales in all four categories, residential, apartments, townhomes and lots vs. the statistics of the previous year. The biggest change noted is seen in the lots category with a 235% increase over 2010. Apartment sales place second with a 59% increase over last year’s figures, however the median sale prices either remain unchanged or have dropped in 2011. Meanwhile the median resident home price for 2011 has increase by $2000 to $427,000. Unfortunately what we are seeing in the other three categories is a drop of $5000, bringing the median price to $213,000 for apartments,  townhomes down from $332,000 to $304,00 and lots losing roughly $2,500 bringing the median price to $170,000.

As anticipated townhome inventory for 2011 has increased by 10% totalling 540 homes for sale on MLS. Inventory for the reamaing three sectors indicates inventory is diminishing, down only 5% for residential inventory bringing the total number of listings on MLS to 1590 and apt inventory dropping down 11% to 878.

I predict the trend to be a decrease in apartment inventory, and a continued increase in townhomes as we are now starting to see new phases of existing developments coming onto the market and new developments taking their form.