Market Stats

How's The Market?

April 2024 Wrap-Up

April's real estate metrics showed promising trends compared to last year. The median price per square foot rose by 2.6 percent, indicating a healthy appreciation in property values, even as the median sales price saw a modest 1 percent decrease.

The market became more dynamic, with a surge in new listings leading to a 25.6 percent increase in active listings compared to last April. This influx of properties gives buyers a wider selection and more opportunities to find their perfect home.

Additionally, nearly 70 percent of properties are now selling above the list price, highlighting strong demand and competitive offers in the market.

Mortgage rates continued their favorable decline this week. Freddie Mac reported, 'Mortgage rates decreased for the second consecutive week. Given the news that inflation eased slightly, the 10-year Treasury yield dipped, leading to lower mortgage rates. The decrease in rates, albeit small, may provide a bit more wiggle room in the budgets of prospective homebuyers.'

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