Market Update For Week Ending June 27, 2020
The National Association of REALTORS® shared in their latest REALTORS® Confidence Index Survey of more than 4,000 members that there were nearly three offers for every home sold in May, which is up from a little more than two offers for every sold home in the April survey. Buyer activity, seen in both showings and Pending Sales, has been strong while seller activity, seen in New Listings, has lagged a bit, suggesting that multiple offer situations continue to be common and will likely remain so in the coming weeks.
For the week ending June 27:
- New Listings increased 7.1% to 393
- Pending Sales increased 40.1% to 444
- Inventory decreased 30.8% to 2,285
For the month of May:
- Median Sales Price increased 12.7% to $224,500
- Days on Market decreased 21.1% to 45
- Pct of List Price Rec’d increased 0.8% to 98.8%
- Months Supply decreased 30.0% to 2.1
