The summer season looks like its officially open for
business. While overall home sales cooled
off a bit after a scorching hot March, April did prove some equally impressive
and distinct numbers in its own way.
As previously mentioned, overall home sales lagged slightly
behind for the month of April, with 1,178
(-52) sales as compared to March with
1,230. The interesting part is not so
much that it cooled down, rather, how it cooled down. Perhaps proving to be the new norm, most
active of all price ranges was the $300,000-$399,999 category, with 286(+31)
sales for April, while March saw 255. To
put that figure in perspective, the 286 sales represented 24% of all home
sales, the highest percentage of any price category ever recorded since I’ve
started writing these reports almost 3 years ago! Second most active price range was the $250,000-299,999
category with 205
(-30) sales, compared to March with 235. The category that has been most active for
almost all of the 3-year time period I’ve been writing this, $200,000-249,999,
came in third with 204
(-29) sales, again falling behind March with 233 sales.
Sales of luxury homes over $1 million surged ahead for
April, with 42(+12) compared to March with 30. Sales of all luxury homes over $700,000 surged as well, with 87 (+18)
sales, well ahead of March with 69.
Here’s where these numbers get even more fascinating. The previously highest percentage of homes
sold within 30 days was May and June of 2017, with 65%. April of 2017 came in at 61%. This year, April saw 772, or 66% of homes
sell within 30 days, a full 7% higher than March with 720, 59%. Homes sold within 31-60 days represented 12%
(-1) or 147 of the market, slightly lower than March with 158.
SO, where do these figures leave us?
Sellers…if your home is not selling in this market, there
needs to be a serious conversation as to why?! Something is not right here, if homes are selling for more money than
ever, faster than ever before, and your home is still on the market for more
than 30 days. For a summary of your home’s
value, click
here!
Buyers…think about this. The most active price category, showing a dramatic increase in overall home
prices, is from 300-399k, and 66% are selling within 30 days, nearly 80% within
60 days. If you think your lowball offer
deserves any sort of consideration in this market…think again. Its just not going to happen. In order to get your offer accepted, click
here and let’s have a conversation!