Our supply of homes on the market has decreased 40.6% from this time last year. Just because we have fewer homes for sale doesn’t mean we’re selling fewer homes. The number of sold homes has risen 18.5% in the first part of 2021 compared to the same time in 2020. So while the number of homes on the market has decreased, the number of sales is still rising.
Our median price has grown 11.8% to $249,371; the median price is the middle number, meaning 50% of homes sold above that number and 50% sold below it. The average can be skewed by highs and lows, but it can be helpful to know too: It has climbed 16.4% to $303,842. Days on market means how long it takes a home to go under contract, and that number has declined 33.3% from 63 days to 42, though again, the average takes some highs and lows into account, so you may see homes selling in two to five days. The volume and speed at which homes are selling is incredible.
Just because we have fewer homes for sale doesn’t mean we’re selling fewer homes.
These numbers give no indication that our seller’s market is slowing; our market is strong and steady. There’s never been a better time to sell a home; though we see this every month, it continues to be true. Interest rates are still historically low, so buyers should still jump into the market too. Hopefully, we’ll continue to see appreciation and values trend upward.
If you have any questions about our market or real estate in general, call or email us. We would love to help you.