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Real Estate Market April Statistics


Finally some sunshine, our family took it in with a walk around

City Park this past weekend.


How is it May already? A pre-emptive Happy Mothers Day to all the mothers out there!

As we look at the real estate market in April, this month was one in which we continued to see the shift in the market. Overall homes are still selling, as you will see in the total numbers, but that only tells part of the story.

This past week we have seen: - 87 price reductions,

- 286 listings withdrawn and

- 32 expired listings.

A good portion of the withdrawn listings will likely be put back on the market at a lower price. This is why I never really focus too much on the statistic of average days to sell, as the number is skewed with the withdrawn and relisted homes.

Overall the market is still moving, it is not stagnant, however, pricing and marketing are becoming more and more important. Buyers are likely anticipating another rate increase in June, which could further cement this swing in the market throughout the summer, we could see a surge of buyers rush to get in this month before the rates increase again.

  • 593 total sales in April (Down from 666 sales in March and also down from last year's sales of 926 sales in April)

  • 1,552 total active listings currently which is up from 1,232 active listings in March. April listings are down compared to the 5-year average of 2,339 listings but up from 1,414 last year. Currently, we are sitting at 66% of the average amount of listings for this time of year. This number is trending up which is positive signs we are moving to a more balanced market.

  • April median days to sell increased slightly to 17 days and the average days to sell came down to 26. This could be a sign due to properties relisting.

  • This past week we saw 83 Price Reductions.

Single Family Residential Homes

  • Single-Family Sales 261

  • New Listings 635

  • Current Inventory 831(628 in April and 594 last April)

  • Listings Withdrawn or Expired 197

  • Total Sold Dollar Value $343,359,800

  • Median Days to Sell 16

  • Average Days to Sell 24

  • Average Sale Price $1,315,555

Townhome Activity

  • Townhome Sales 95

  • New Listings 180

  • Current Inventory 179

  • Listings Withdrawn or Expired 36

  • Total Sold Dollar Value $73,587,050

  • Average Days to Sell 20

  • Median Days to Sell 16

  • Average Price $774,601

Apartment/Condo

  • Condo/Apt Sales 168

  • New Listings 252

  • Current Inventory 284

  • Listings Withdrawn or Expired 53

  • Average Days to Sell 27

  • Median Days to Sell 18

  • Average Price $548,560

Let me know if there is anything I can do for you! Have a great week and feel free to reach out with any questions!

Mark


Mark Coons

Personal Real Estate Corporation

Coldwell Banker Horizon Realty

2021 Top 3% Internationally Coldwell Banker

Mobile: 250-801-0361

Email: markcoonsrealty@gmail.com