As we continue the Safer-At-Home order and slowly crawl out of quarantine, we aim to provide you with clear and concise data-driven market statistics to keep you informed.
- There was a dip in closed listings for the second consecutive week. During the week of May 10, 568 listings closed a week-over-week decrease of 16% and 56% less than the same week last year. On a positive note, the number of listings in Pending status increased 15% week over week and was up 21% compared to last year at this time.
- Listings of homes for sale continued to come on the market. The measure for New Listings was up 2% compared to last week and was down 15% year over year.
- The Median Closed Price for homes was up less than 1% both week over week and year over year.
- The median number of days a listing was in the MLS increased to 8 days. Days in MLS was 2 days more than last week and 1day more than this week last year.
- The count of Active Listings at the beginning of the week saw a minor uptick. On May 18, where were 7,346 Active listings, up 1% from last week.
- The number of listings in Withdrawn status saw increases last week, up 66% week over week and 17% higher than this week in 2019.
As expected, there was a huge dip in showings activity during the ‘stay at home’ guidelines and real estate commission prohibition of showings. Well, as the graph below reflects things are coming back. We are experiencing strong buyer demand for properties.