Let's dive even deeper than this. Let's begin by looking at a year over year comparison of specific real estate data that will help us understand what our local markets are doing compared to the rest of the country. 

May New Listings:

We start by looking at May of 2017, where we see there were 506 NEW LISTINGS that came on the market. In May of 2018, we find an increase of +3.4 percent with 523 NEW LISTINGS. The following year in May of 2019, we increased by +15.7 percent with 605 NEW LISTINGS

May Homes for Sale:

We again, start by looking at May of 2017, where we see there were 957 HOMES FOR SALE. In May of 2018, we find a decrease of -3.8 percent with 921 HOMES FOR SALE. The following year in May of 2019, we increased slightly by +0.8 percent with 928 HOMES FOR SALE. 

May Pending Sales:

Let's view May of 2017, where we see there were 382 PENDING SALES. In May of 2018, we increased by +5.0 percent with 401 PENDING SALES. The following year in May of 2019, we increased again by +28.7 percent with 516 PENDING SALES. 

May Median Days on Market:

Let's view May of 2017, where we see there were 15 MEDIAN DAYS ON MARKET. In May of 2018, we decreased by -13.3 percent with 13 MEDIAN DAYS ON MARKET. The following year in May of 2019, we increased by +7.7 percent to 14 MEDIAN DAYS ON MARKET

May Months Supply of Homes for Sale:

In May of 2017, the MONTHS SUPPLY OF HOMES FOR SALE was 2.9. In May of 2018, we decreased by -6.9 percent to 2.7 MONTHS SUPPLY OF HOMES FOR SALE. The following year in May of 2019, we decreased by -7.4 percent to 2.5 MONTHS SUPPLY OF HOMES FOR SALE. 

So there is your comprehensive LOCAL look at the real estate market. They say that June is National Homeownership Month and so if you are thinking about purchasing a home, please reach out to the Linda Hall Team. We'd love to assist you!!