Neighborhood Update: A Look at Prices and Inventory
LOCAL MARKET UPDATE
The local real estate market was caught up in a holiday buying spree in December, with demand, home prices and sales all on the rise. It was the busiest December for sales since 2005. The flurry of activity further depleted already low inventory, with the supply of homes reaching its lowest point in more than a decade. High demand and low supply caused prices to continue their climb over last year, and home prices in a number of areas reached all-time highs.