MAY 2020 New Listings:
We start by looking at the NEW LISTINGS that came on the market in May and we begin with 2018, where we see there were 528 NEW LISTINGS that came on the market. In May of 2019, we find an increase of +15.2 percent with 608 NEW LISTINGS. The following year in May of 2020, we decreased by -38.3 percent with only 375 NEW LISTINGS.
MAY 2020 Homes for Sale:
We again, start by looking at May of 2018, where we see there were 922 HOMES FOR SALE. In May of 2019, we find an increase of +9.2 percent with 1,007 HOMES FOR SALE. The following year in May of 2020, we decreased by -46.7 percent with 537 HOMES FOR SALE.
MAY 2020 Pending Sales:
Let's view May of 2018, where we see there were 407 PENDING SALES. In May of 2019, we increased by +18.9 percent with 484 PENDING SALES. The following year in May of 2020, we increased by +9.9 percent with 532 PENDING SALES.
MAY 2020 Median Days on Market:
Let's view May of 2018, where we see there were 13 MEDIAN DAYS ON MARKET. In May of 2019, we increased from the previous year with 15 MEDIAN DAYS ON MARKET. This year in May, we decreased by -53.3 percent with only 7 MEDIAN DAYS ON MARKET.
MAY 2020 Months Supply of Homes for Sale:
In May of 2018, the MONTHS SUPPLY OF HOMES FOR SALE was 2.7. In May of 2019, we increased by +3.7 percent with a 2.8 MONTHS SUPPLY OF HOMES FOR SALE. This year in May, we decreased by -50 percent with 1.4 MONTHS SUPPLY OF HOMES FOR SALE.
So there is your comprehensive LOCAL look at the real estate market. As you can see the market is definitely favoring sellers. The supply is down and the demand is high. If you are considering a sale of your home then now might be a perfect time. Please reach out to the Linda Hall Team. We'd love to assist you!!