April Property sales were 211, up 106.9% from 102 in April of 2020 and -0.9% lower than the 213 sales last month. April 2021 sales were at their highest level compared to April of 2020 and 2019. April YTD sales of 726 are running 49.7% ahead of last year’s year-to-date sales of 485.
The Median Sales Price in April was $990,000, up 13.8% from $870,000 in April of 2020 and up 7.0% from $925,000 last month. The Average Sales Price in April was $1,138,199, up 17.6% from $968,240 in April of 2020 and up 6.0% from $1,073,427 last month. April 2021 ASP was at highest level compared to April of 2020 and 2019.
INVENTORY & MSI
The Total Inventory of Properties available for sale as of April was 250, up 18.5% from 211 last month and down -24.5% from 331 in April of last year. April 2021 Inventory was at the lowest level compared to April of 2020 and 2019.
A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The April 2021 MSI of 1.2 months was at its lowest level compared with April of 2020 and 2019.
The average Days On Market(DOM) shows how many days the average Property is on the Market before it sells. An upward trend in DOM tends to indicate a move towards more of a Buyer’s market, a downward trend a move towards more of a Seller’s market. The DOM for April was 28, up 7.7% from 26 days last month and down -3.4% from 29 days in April of last year. The April 2021 DOM was at its lowest level compared with April of 2020 and 2019.
SELLING PRICE PER SQUARE FOOT
The Selling Price per Square Foot is a great indicator for the direction of Property values. Since Median Sales Price and Average Sales price can be impacted by the ‘mix’ of high or low end Properties in the market, the selling price per square foot is a more normalized indicator on the direction of Property values. The April 2021 Selling Price per Square Foot of $608 was up 1.0% from $602 last month and up 14.3% from $532 in April of last year.
SELLING PRICE VS LISTING PRICE
The Selling Price vs Listing Price reveals the average amount that Sellers are agreeing to come down from their list price. The lower the ratio is below 100% the more of a Buyer’s market exists, a ratio at or above 100% indicates more of a Seller’s market. The April 2021 Selling Price vs List Price of 100.6% was down from 100.9% last month and up from 98.2% in April of last year.
INVENTORY / NEW LISTINGS / SALES
‘This last view of the market combines monthly inventory of Properties for sale along with New Listings and Sales. The graph shows the basic annual seasonality of the market as well as the relationship between these items. The number of New Listings in April 2021 was 188, down -25.1% from 251 last month and up 51.6% from 124 in April of last year.
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