Stats are updated daily now
For the spring, we are updating the Single Family Home Statistics and the Condo Statistics every day. Ours are based on the past 30 days, so it gives you a different perspective than Mike's month-to-date stats. For example, today Mike's stats would cover April 1 - 14, whereas ours will include March 16 - April 14. Neither is better, just different.
The 30-day numbers show very little change in prices since March 31. The absorption rate continues to go down, and the inventory is not growing as we would have expected in the spring.
After 14 days in April, SFH new listings down by 50% compared to last year. Condos are down 44%. The popular consensus in December was for a huge number of new listings this spring, which could still be coming, of course. I have plenty of buyers who would welcome a better selection.
Inventory for both SFH and condos is down 32%.
After starting the year down 49% in Jan, SFH sales have picked up considerably. March sales were down 23% compared to last year. Along with most people, I was expecting the 49% drop to continue throughout the year. SFH sales for the first 14 days of April are down 14%.
Condo sales were down 50% in Jan, but are only down 13% for April.
Last year, the absorption rate was trending higher. This year it's dropping. That means we have about a 4-month supply of homes which is still considered a buyers market. For homes under $400,000, it's a balanced market with a 2.4 month supply.
Pending sales volume is higher than it was last year at this time. Condo pendings are at 213 today, last year on this date they were 167. Single Family Homes(SFH) are at 373, last year 363. That bodes well for increased sales. Prices for SFH will hold steady or go up slightly over the next week. Condo prices are heading down.