The April 2024 Real Estate Update

We saw the typical spring warm-up with the market and we saw a major increase in new listings on the market. Certain property types and neighborhoods are selling faster than others based on market availability and desirability. Overall, closings are up nearly 2% from last month, and median days on the market are down almost 30% from last month, only 8 days. Pending sales have increased 8% from last month and new listings are up over 21% as well.

We see lots of green in the MOM and YOY data below, meaning closings, pending transactions, active listings, and closed prices are all up on average. We have significantly more listings this April compared to last which shows more people are willing to trade in their existing homes for ones that fit their current needs better.

The average days in the MLS has dropped off to sit just around 30, down from 50 earlier this year. Again, this is an average, so we have plenty of properties moving faster and plenty of properties sitting around. The median days on market right now is around 8!

Interested in more info about the market? Or what’s happening in your zip code or price range? Just reach out! I have all kinds of data available for you.