Katy's Korner

House (SFD) Sales by Days on Market.

In May, approximately 75% of house listings that sold accepted offers within 3-4 weeks of going on market.

Approximately 15% of house listings that sold accepted offers between 30 – 90 days of going on market.

Only 10% of sold house listings accepted offers with days on market over 90, even though they made up 32% of the listings for sale.

Houses that sell without a price reduction (75% of sales in May) averaged 101% of LP over the past 12 months and about 35 Days on Market since spring began. Houses that sell after 1 or more price reductions (25% of sales in May) averaged 88% of original LP over the past 12 months and about 110 Days on Market since spring began.

Condos that sell without a price reduction (71% of sales in May) averaged 98% of LP over the past 12 months and about 46 Days on Market since spring began. Condos that sell after 1 or more price reductions (29% of sales in May) averaged 88% of original LP over the past 12 months and about 125 Days on Market since spring began.

Condos Accepting Offers (week by week chart): condo market has weakened more than the house market.

Percent of Listings Under Contract: about the lowest it’s been since February. Increasing inventory + decreasing demand = more choice for buyers; a more competitive environment for sellers.

Listings For Sale: increasing bit by bit going into summer. Higher than at any other point in the past 6 months. A bit more choice for buyers.

Luxury Homes $1,500,000+ Accepting Offers: the market has cooled in the past 4 weeks compared to the spurt in mid-May, but is generally at the levels we’ve seen since February.

New Listings Coming on Market: a fair amount of new listings still coming on market. We’ll have to see if this begins to tail off going into summer.

Homes Listings Accepting Offers: market has slowed down quite a bit from April (the double tax credit rush), and by a smaller degree from May. The first week of June was significantly impacted by the Memorial Day weekend.