April 2020 Stats
Listings YTD are down 14% relative to 2019
Listings for April are down 53.60% relative to April 2019
Sales for April are down 54.89% relative to April 2019
Sales YTD are down 19.60% relative to 2019
Prices are up.08% relative to April 2019
Prices YTD are up 10.94% relative to 2019
The effects of the pandemic have been quite dramatic on the number of houses being listed and sold. The price increases we have been seeing the last few years have slowed, but prices have not come down that much from the $381,999 February peak. Average price for April was $368,242. I would expect the volume numbers to stay low until there is some sort of reopening of the economy, which is planned to begin this month. The reopening of the economy will be a slow process so I wouldn’t expect volumes to recover until the economy is fully open.
For buyers it is very important to confirm your mortgage pre approvals and approvals for current deals if you have been laid off or have seen a significant drop in income, as this can affect your qualification amounts.
Until next month, stay safe and stay healthy.
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