Today as we celebrate Cinco de Mayo with Mexican food and festivities, let's take a look at the Market de Mayo (the Market of May)! To do so, we follow the Keyfinders tried and true approach to analyzing the market.
There are four major categories we follow: 1) Inventory 2) Closed Sales 3) Days on Market 4) Sales Pending, our personal favorite.
When you look at the activity in April, inventory was up, new listings down, pendings down, with days on market averaging 17 days. While closed sales are down over last year, they are rapidly rebounding to pre-Covid numbers. The telling statistic to help interpret this data is the number of showings to pending ... only 10 showings to pending which is less than last year!
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