Real Estate News

Weekly Market Snapshot: April 30- May 13, 2021

This market calls for weekly updates.

I missed the pervious weeks updates, so two weeks in one here.

April 30 - May 6 Numbers:
▪️ Avg Sold Price: $858,837 - Median: $820,850
▪️ Avg Sale Price/ List Price: 104% - Median: 101%
▪️ Avg Days on Market: 12 - Median: 10

May 7 - 13 Numbers:
▪️ Avg Sold Price: $852,113 - Median: $821,000
▪️ Avg Sale Price/ List Price: 105% - Median: 103%
▪️ Avg Days on Market: 10 - Median: 6

What has been going on?  These numbers are again bouncing all over the place.  The latest trend I see is of a very strong market with lots of activity that appears to be increasing.

The number of New Listings are just edging out Sales recently.  This is a good thing because supply is steady and demand is not overwhelming.  This should mean the market is trending towards being more balanced.  But this has been the story for many weeks recently...

Sale Price/List Price ratio is trending above 100% again, meaning properties are selling for over asking again, as they have been most of this year.

Average Days on Market are steady also around 10.  This is a result of shifting offer strategies away from set offer dates, having more properties on the market and them sitting on the market a little longer.

It will be very interesting to see how the coming weeks unfold.  Each week is a new surprise!

Is the market slowing down?  Not very much just yet!

It’s still a great time to sell! If you know anyone CONSIDERING SELLING,
don't delay! Contact me today!

It is a strong Sellers Market buying demand.

We have changed how we do some things to work in a safe and responsible
manner. Please let me know if I can help in anyway, I’m here to serve.

Be safe and be well!

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Brian Lafazanos
Brian Lafazanos
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