April 2024 Market Report 95864

The real estate market is currently experiencing a high level of demand, as indicated by the low Months Supply of Inventory of 1.23. This means that there are more buyers looking for homes than there are available properties for sale. The 12-Month Change in Months of Inventory decreasing by 25% further demonstrates this trend, showing that the market has become even more competitive in the past year.

The Median Days Homes are On the Market of only 12 days is a clear reflection of the fast-paced nature of the current market. Homes are selling quickly, with buyers eager to make offers on desirable properties. This is supported by the List to Sold Price Percentage of 99.3%, indicating that homes are typically selling very close to their listing price.

Despite the high demand and quick sales, the Median Sold Price of $595,000 shows that sellers are still able to command strong prices for their properties. This suggests that buyers are willing to pay a premium for homes in this market due to the limited inventory and high competition.

Overall, these metrics paint a picture of a real estate market that is favoring sellers, with low inventory, quick sales, and strong prices. Buyers should be prepared to act quickly and potentially pay above asking price for their desired property, while sellers can expect to see a high level of interest and potentially receive multiple offers on their home.