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Digging Deeper: March 2021 Records

March 2021 was yet another record-breaking month. In this report, the DMAR Market Trends Committee examined the various records broken in this month.

ACTIVE LISTINGS

  • (Residential) 1,921 represents the lowest inventory on record. The previous low was February 2021 of 2,024.
  • (Detached) 1,122 represents the lowest March on record. The previous record low was in 2015 with 3,325 active listings.

CLOSE PRICE — MEDIAN

  • (Residential) $500,000 represents the highest amount on record. The previous record was in October 2020 of $475,000.
  • (Detached) $560,000 represents the highest amount on record. The previous record was in February 2021 of $530,000. 
  • (Attached) $353,000 represents the highest amount on record. The previous record was February 2021 of $337,500.

CLOSE PRICE — AVERAGE

  • (Residential) $589,587 represents the highest amount on record. The previous record was in October 2020 of $559,872.
  • (Detached) $674,990 represents the highest amount on record. The previous record was in February 2021 of $632,481.
  • (Attached) $416,775 represents the highest amount on record. The previous record was in February 2021 of $399,190.

DAYS IN MLS — MEDIAN

  • (Residential) 4 days represents the lowest number on record. The previous low of 5 was set in 9 different times.
  • (Detached) 4 days represents a tie for the lowest number on record. The previous low was in February 2021.
  • (Attached) 5 days represents a tie for the lowest March on record. The previous low of 5 was set in 4 different times.

DAYS IN MLS — AVERAGE

  • (Residential) 19 days represents the lowest March on record. The previous low was in 2018 of 26 days.
  • (Detached) 15 days represents the lowest number on record. The previous low was in 2015 & 2017 of 19 days.

CLOSINGS

  • (Residential) 4,889 represents the highest March on record. The previous high was set in 2020 with 4,831 closings.
  • (Attached) 1,617 represents the highest March on record. The previous high was set in 2020 with 1,452 closings. 

MONTHS OF INVENTORY (MOI)

  • (Residential) 0.39 months represents the lowest number on record. The previous record low was in December 2020 with 0.53 months.
  • (Detached) 0.34 months represents the lowest number on record. The previous record was in December 2020 with 0.40  months.
  • (Attached) 0.49 months represents the lowest number on record. The previous record was in March 2015 with 0.60 months. 

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