April 1 – 10 market update

Sales are still higher than at any time in the past four years. New listings are struggling to keep up with demand. Yesterday, 10% of the sales went for list price or higher.

Compared to the 3-year average,

  • Sales are up 10%
  • New listings are down 8%
  • 30-day median price is up $9,000(+2.2%)
  • Inventory is down 20%

With inventory at 3511 today, it’s far too low to satisfy all the buyers looking for a home. A good number of the active listings are inferior or overpriced, and we are seeing intense interest in any new listing that’s well-priced and attractive. What’s surprising is that the median price is holding steady in the face of the demand.

Advertisements

One response to “April 1 – 10 market update

  1. Yesterday, a home in McKenzie Lake sold for $356,000 which was $6,000 over list price, with the offer coming after 3 days on the market. The home was purchased in 2005 for $209,000.

    7 of yesterday’s 63 sales went for list price or higher in the following communities: Silverado, New Brighton(2), Evanston, Riverbend, Forest Lawn and McKenzie Lake.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s