2023 Single Family Home Market Summary
Despite the poor performance in 2023, Single Family homes remain the most resilient housing product to own. A lot of the declines we saw last year stem from additional fami- lies moving out of the city and higher price points for single family homes. Continuing the trend from pandemic times, a single-family home is still a much more desirable housing product. The lack of shared living spaces, autonomy and privacy continued to drive de- mand. If you purchased in the last 15 years you are likely sitting on a 3% interest rate – any increase is significant, but a 5% increase can be paralyzing.
2022 v. 2023
-27.1% Decrease in total Condominium ales volume ($3.691B)
-12.7% Decrease in total Condominium ales volume ($3.691B) -6.0% The average list price to sale price remained static (103.4%))
+31.8% Decrease in total Condominium ales volume ($3.691B) -27.1% The number of units sold decreased. (1,822)
-9.5% Decrease in total Ales volume ($3.691B)
Median Price (Sold)
Unit Sold
Median Price (Sold)
2023
% Chg
2023
% Chg 2023 % Chg
Dist. 1
154
-23.0%
$2,025
-14.8% 30 42.9%
Dist. 2 Dist. 3 Dist. 4 Dist. 5 Dist. 6 Dist. 7 Dist. 8 Dist. 9 Dist. 10
329 134 259 226
-25.4% -16.3% -18.0% -31.3% -21.4%
$1,501 $1,240 $1,731 $2,355 $2,600 $4,995 $3,950 $1,675 $1,100
-13.3% 24 26.3%
-12.9%
28
16.7%
-13.4% 26 30.0% -12.3% 30 50.0%
33 83
-10.6% 47
62.1% 54.5% 31.3% 31.8%
-1.2%
6.9%
51
13
-55.2% -19.4% -17.2%
33.0% -9.0%
63 29
191 381
-9.1%
30 20.0%
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