April stats are in, and although total Pending and Closed sales are down compared to last year due to COVID-19, many other key indicators have actually improved this year over the same period in 2019.
As sellers and buyers sheltered (and real estate service providers scrambled to operate safely in the pandemic environment), inventory and sales volume slipped.
Surprising, most indicators remain positive and have improved over last year. Withdrawn listings are coming back on the market and new listings are emerging as sellers see this as a window of opportunity, particularly with an eager Buyer pool and fewer competing properties on the market to satisfy demand.
Year over year New Listings, Pendings and Solds declined sharply as the County was shut down in March. New listings have been increasing nearly every week in April. A growing number of Pending and Solds are following.
Compared to April 2019, Median Sales Price, Average Sales Price, Percent of Original Price Received were all higher this year than last year, and Days on Market has declined.
Further, the year to date statistics (January through April 30th) seem to indicate the slow-down was by no means a take-down for real estate.
Questioning whether this might be a good time for you to buy or sell a residential property? Give me a call and let's investigate together.
Enjoy your Sunday,