Strong & Steady - May 2024 Real Estate Market Update

Data by city / county at l.golovkohomes...
Let’s break it down and look at the data this month.
The median sales price for single-family, resale homes was up 11.7% compared to last year. The average sales price for single-family, resale homes was up 13.7% year-over-year. Sales of single-family, re-sale homes were up 38%, year-over-year, in April. There were 26% fewer homes sold last month vs the monthly average since 2000
The sales price to list price ratio rose from 109.2% to 110.7%. Pending sales were down 43.6% year-overyear. Inventory of single-family, re-sale homes was down for the thirteenth month in a row. It fell 0.8% compared to last year. For single family homes, as of May 5th, there were 76% fewer homes for sale in Bay Area than the average since January 2000. For condos / townhomes, the number is 56% fewer.
Days of Inventory, or how long it would take to sell all homes listed for sale at the current rate of sales, rose from 22 days to 26 days. The average since 2003 is 89. It took 12 days to sell a home last month. That is the time from when a home is listed for sale to when it goes into contract.
Condo / townhome inventory was up 46.3% compared to last April. As of May 5th, there were 56% fewer condo / townhomess for sale. Days of inventory stayed at 30. It took an average of 16 days to sell a condo last month.
#realestateisfun :-)
Silicon Valley/Bay Area Real Estate - Olga Golovko - Keller Williams Realty
See what your home is worth in today's market:
www.golovkohom...
Olga Golovko
Call/Text: (650) 409-OLGA (6542)
Email: [e-mail]
Web: golovkohomes.com
CalDRE#01898618