April brought some encouraging news for the real estate market, with several key metrics showing strong performance. Here's a closer look at the latest figures and what they mean for both buyers and sellers.
Average List Price Holds Steady
The average list price for homes in April was $517,000. This is good news for sellers, indicating that prices are holding firm despite market fluctuations. Stability in listing prices suggests that the market remains resilient.
Number of Sold Homes Slightly Down
The number of sold homes in April was down 2.4% year over year. While this slight decrease might seem concerning at first glance, it is consistent with trends observed earlier this year.
Pending Home Sales on the Rise
A particularly positive sign is the increase in pending home sales, which are up 2.2% year over year. This uptick indicates growing buyer interest and suggests that more homes are moving closer to closing.
Active Listings See Significant Increase
Perhaps the most notable change is the jump in active listings, which are up 12.9% year over year. This increase in inventory means more options for buyers and signals a more dynamic market overall.
What Does This Mean for You?
For Sellers:
It's encouraging to see that prices remain steady and strong even in a slower market. The increase in pending sales is a positive indicator that buyers are starting to make moves, so it’s a good time to list your property.
For Buyers:
The significant rise in inventory is great news for you! With more homes available, you have a wider selection to choose from, which can help you find the perfect home that meets your needs and budget.
If you have any questions about these trends or how they impact your specific situation, feel free to reach out. I'm here to help with all your real estate needs!
Keira