PENINSULA HOUSING MARKET HITS RECORD MEDIAN PRICE
The median selling price of homes on the Peninsula reached a record high of $350,000 in May.
This record was set despite a slight decrease in the total number of homes sold compared to last year.
Active residential listings totaled 1,409, the most seen in nearly five years.
Increased inventory means buyers have significantly more selection than in recent years.
The Month’s Supply of Inventory (MSI) reached 2.51, the highest in many years, but still favors sellers over a balanced market.
Median days on market increased slightly year-over-year to 19 days.
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