Market Update

Sales of single-family, re-sale homes rose 10.3% last month compared to March. Year-over-year, sales were off 33.5%. Year-to-date, home sales are off 37.8%.The median price for homes dropped 4.1% month-over-month, and was off 9.9% compared to last April. Nevertheless, we're hearing reports that well-priced homes in the best neighborhoods are receiving multiple offers.Condo sales were also up last month, rising 12% from March, but off 45.6% year-over-year.The median price for condos dropped 5.2% from the month before, and was down 9.4% year-over-year.Inventory continues to increase with the supply of homes up 7.8% from March, and up 28.1% year-over-year. Condo inventory gained 8.3%, up 20% compared to last April.The sales price to list price ratio fell slightly to 96.78% for homes. The ratio for condos fell to 96.11%.Days on market fell six days to 49 for homes. Days on market for condos rose five days to 57 days.Our days of inventory indicator for single-family homes continued downward on the increase in sales, shedding 7 days, sending the indicator to 298 days. The indicator for condos fell ten days to 291.

For more details on the latest Real Estate updates visit http://www.dalewarfel.com/
You can Call Realtor Dale Warfel at: 408.624.6202 or email him: dale@dalewarfel.com