The real estate market took a surprising turn in April. Back in March, 81% of the market was selling below $699,000. Fast forward to April, and homes priced over $700,000 saw a significant upward swing. This shift in the market dynamics is worth a closer look.

April Sales Performance: A Closer Look

In April, while only 67% of single-family homes listed were sold, it was a record-breaking month with 403 homes sold. Let’s break down the numbers further. Notice the substantial increase in sales for higher-priced homes.

Factors Influencing the Market Shift The rise in home prices could be influenced by various factors. One possibility is the impact of military relocations. Alternatively, this could be part of the normal market cycle. Notably, there was a significant increase in the sale of newly constructed homes in April—54 homes sold at an average price of $750,812, based on data from 25 builders. Regardless of the reason, real estate transactions are always beneficial for the economy.

Year-to-Date Market Analysis As of now, 1,629 single-family homes have been listed this year, with 1,170 of them sold. There have also been 537 price drops, averaging $36,169 per drop. This accounts for 46% of the market experiencing price reductions. I attribute this to sellers attempting to capitalize on the COVID-19 market surge and agents not conducting thorough market analysis.

Price Reductions and Market Realities The fact that 46% of the market has seen price drops is telling. Additionally, 148 homes sold at their asking price, meaning 60% of the market sold at or below asking price. These statistics highlight significant market realities.

In summary, April's real estate market presented some unexpected trends with higher-priced homes gaining traction. The sale of newly constructed homes played a crucial role, and price adjustments remain a common occurrence. The market continues to evolve, offering insights into the economic landscape and the factors driving these changes.

Well what a turn April took.  Remember back in March 81% of the market was selling below $699k.  I was shocked to see that homes over 700k took an upward swing in April. To analyze things further  in April while only 67% of single family homes that listed sold, we had the most ever sell.  403 homes sold.

Let’s break that down.  The   second column represents Jan  and there after each respective month.  Look at the jump the higher priced homes took. 

Thoughts are the increased price point could have something to do with military moves or it’s the normal market. On second thought, there were more new constructed homes sold for April. 54 of them to be exact for an average price point of $750812.  *based on 25 builders*  .  Either way, the trading of real estate is always great for the economy.

YTD there have been 1629 single family homes listed with 1170 selling.  There have been 537 price drops for an average of $36,169.  The main things I attribute this to are sellers hoping to still cash in on covid and agents not doing their homework. This is 46% of the market with price drops!!!!  In addition to the 46% price drops, 148 homes sold at asking.  60% of the market is at asking or below.  That speaks VOLUMES