CLAYTON RESIDENTIAL AND CONDOMINIUM PROPERTIES
Looking forward, I am optimistic that the demand for Clayton residential homes and condominiums will remain steady with slight annual variances up or down. We continue to enjoy positive news about improving economic conditions, continued strength in the equity and capital markets, incredibly low inventory levels and attractive mortgage interest rates. New Clayton listings should continue to drive activity and price levels. Well-priced homes in good condition will sell quickly and at attractive prices.
In terms of sales, 2016 was the decade high for both Clayton residential and condominium sales. Median residential prices were slightly lower than 2015 but still achieved the second highest level in the last decade Median condominium prices also softened in 2016 and achieved the third highest level over the last decade.
New residential listings were higher than 2015 and may have contributed to the slight increase in inventory levels. New condominium listings were lower than 2015 levels and may have helped to reduce inventory levels to the decade low.
The SP:OLP ratio reflects the average level of discount sellers must take to become price agreed (100-value shown). Residential home discounts have increased since the 2014 decade low. Condo minimum discounts fell to the decade low.
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