April Housing Market Snapshot
April was another strong month for home sales. The busy spring market continues to see many multiple offer situations driving sales prices above asking price. With such strong activity, by the time a property sale closes, the market may have already moved higher than that sold price suggests. Such markets can create stress and frustration for prospective homebuyers, who are frequently having to submit offers on multiple properties before they are
able to secure a purchase.
Closed Sales increased 55.9 percent for Detached homes and 72.1 percent for Attached homes. Pending Sales increased 81.6 percent for Detached homes and 98.0 percent for Attached homes.
The Median Sales Price was up 32.4 percent to $940,000 for Detached homes and 21.4 percent to $575,000 for Attached homes. Days on Market decreased 50.0 percent for Detached homes and 45.8 percent for Attached homes.
Supply decreased 70.4 percent for Detached homes and 73.9 percent for Attached homes.
In the spirit of the great Wayne Gretzky, buyers, sellers, and their agents are all trying their best to skate to where the puck, or rather, the housing market, is going, not where it has been. While housing affordability remains an area to
watch as prices continue to rise, strong buyer demand and limited housing supply show no signs of easing soon, pointing to a continuation of this market trend through spring and into summer
