Hey everyone, back at it with another quick market update, this time for May 2020.
I know I’m a little late into June for last month, but still thought might as well.
So, last month we saw a significant increase in new listings. So, if you don’t remember, in April, we saw 163 new listings, and in May, we saw 256. I wouldn’t say significant; I think I take that back. Definitely a positive sign that new listings are hitting the market. Generally speaking, people are more comfortable with the new norm. In-person showings are in full-force kind of happening, we’re just being really careful, but all-in-all the market’s starting to ramp up. I’m sure you see that in your own neighborhood as well.
Days on market has slightly increased, that could be attributed to the new listings that are hanging in the market. We’ll kind of monitor that into the next month.
The average sale price is still up 5% over last year, and we’ll continue to monitor that as the year goes on. So, generally speaking, the market is still looking good.
If you have any questions, feel free to reach out. This is your monthly market update.
Again, feel to reach out if you have any questions; I’m happy to help.
Have a great day, and thanks again.