A month after topping $300,000 for the first time, median home sales prices continued their upward climb, rising to $320,000 in April, RE/MAX said, citing its national housing report.
At the same time, a home’s days on the market fell six days to just 32 — also a record in the brokerage’s report.
The limited inventory that has plagued the housing market continued, although at an abated pace: An increase in properties coming onto the market slowed the double-digit monthly declines of late to a relatively slow 2.4%. Year over year, inventory was down 42.2%.
“Even with rising home prices, super-quick turnarounds, and fierce competition for available listings, April 2021 saw more home sales than any April in at least 13 years,” RE/MAX Holdings Inc. CEO Adam Contos said in a press release. “That’s a clear reflection of overwhelming demand and the resilience of today’s buyers.”
The overall average number of home sales in the 53 metro areas surveyed by RE/MAX was up 5.3% on a monthly basis and 45.2% on a yearly one. Coastal cities led the way, with San Francisco clocking a 121% increase, New York a 112.2% gain and Miami a 111.9% rise.
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