For the second month in a row now, home prices remained pretty much exactly the same. March’s average sale price came in at $614,312. This is less than $100 more than the prior month’s average of $614,253, and down from January’s record-breaking high of $628,652.
Housing Inventory Tightens
Yet, this comes along with reduced inventory, which normally pushes prices up. Active listings are down to a stunning 1,499. One year ago, 2,189 homes were up for sale here in Richmond County. This means available homes have dropped 32% in one year. But prices increased only 6% since 2020, when the average home sold in March for $578,773.
Home sales have surged nearly 70% year over year as well. In March 2021, 452 home sales closed, compared to…