I get the feeling that the worst is over. It’s only feeling, but the patterns seem to be changing somewhat. Levelling off is somewhere in our future. When? Maybe soon. Maybe not until 2019.
Sadly, April’s statistics do are not reflected in my spidey senses. The statistics from April were released this week. They show that April was another record breaking month. The number of homes sold was up 14.3% compared to April 2016.
More listings entered the market, which was nice considering the backlog of ready buyers., but it is still a seller’s market with less than a one month inventory of homes for sale.
The continuing lack of inventory was naturally reflected in continuing price appreciation. The average sale price of our local real estate finally crested the half million mark reaching an average of more than $512,000.
Single detached homes saw an average selling price of more than $594,000.
“Say ‘wow’ one more time. I dare you.”
Everything except for condo apartment units are up near 40% compared to April 2016.
Days on market was just 10 compared to 33 days a year ago.
April was not awesome, unless you were selling.