February 23, 2021 — The city’s white-hot housing market has been great for its economy, but that appears to be changing. The City Council this week expressed concern that steadily-rising home prices are starting to discourage some employers — and maybe even some families — from moving here. 

According to the city’s 2020 financial report released Monday, the average price of a single family home jumped 20% in the past year, to $437,000, while the average price of a condominium or townhome increased 18% to $295,000.

“But you can almost throw affordability out the window because the demand is so high,” Jeff Greene, the mayor’s chief of staff, told the council during Monday’s work session.

“We can’t build enough houses to meet the demand,” he said. “People are paying from $30,000 to $50,000 above the listed price for a home. This can’t continue. We need to do something soon.”

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