Market Conidtions

Accord to Yahoo! News today, home sales fell in March but the supply of properties on the
market tightened and prices inched higher. Even with March's decline in sales, this years first quarter is the strongest since 2007. 
An important thing to remember is that market conditions are area specific. The information you hear quoted on the news are national statistics. A good idea is to ask a local Realtor for market information pertaining to your neighborhood to get a better understanding of your market. 
For example, below are statistic for Montgomery County, PA. You could even go one step further and get township statistics too!
Montgomery County - Single-Family Homes

Inventory

	Mar 11	Mar 12
Inventory	4,961	4,548
Inv. Accumulation	9.4	8.6

Market History

	Mar 11	Mar 12
Settled	426	476
Median Price	$240,000	$245,000
SPrice/OPrice	89.9%	90.2%

Year-to-Date Market Snapshot

	Mar 11	Mar 12
Settled	1,067	1,236
Median Price	$245,000	$240,000
SPrice/OPrice	89.57%	89.87%