Recapping Our Market’s Latest Numbers

Today we’re here to talk to you about the latest statistics you need to be aware of whether you’re buying or selling a home in the current market.

In April 2022, we saw 111 home sales. That’s up from 104 last month and slightly down from the 140 we had in April 2021.

Our median sales price has stayed pretty steady. It rose from $860,000 to $861,000 in the last month, and it’s up 7.5% from this time last year. It’s clear that we're still in a great seller's market.

Next, the months’ supply of homes in our market has seen a slight uptick, but we still only have 1.36 months of inventory. That number has stayed flat over the last year. A balanced market has six months, so we’re not anywhere close to that.

We are also seeing a jump in new listings. We had 148 in April, which is up from 128 in March. That number is down from the 167 we saw last April, however. The average days on market is just 16 days right now.

Buyers are starting to see a little more inventory, they’re getting a little pickier, and they’re also buying with urgency because interest rates are on the rise. Rates rose from 4.67% to 5.27% in the last month, and they are up from 3.18% at this time last year.

We don’t know what’s going to happen in the future, but we do know that certain things are shifting around right now. We'll continue reporting the numbers as we get them, and we’ll always be here to keep you informed.

If you have questions about the market or anything else related to real estate, don’t hesitate to reach out via phone or email. I look forward to hearing from you soon.