top of page

April Market Report

Updated: Jun 27



U.S. existing-home sales recently fell from a one-year high, dropping 4.3% month-over-month to a seasonally adjusted annual rate of 4.19 million, according to the National Association of REALTORS® (NAR), as higher interest rates and rising sales prices continue to keep some prospective buyers on the sidelines. Average 30-year mortgage rates have topped 7% in recent weeks, while the median existing-home sales price hit $393,500 as of last measure, a 4.8% increase from the previous month, according to NAR.


New Listings decreased 25.5 percent to 117. Pending Sales were down 9.3 percent to 97. Inventory levels shrank 6.0 percent to 425 units. Prices continued to gain traction. The Median Sales Price increased 45.4 percent to $245,000. Days on Market was up 2.8 percent to 109 days. Absorption rates were even with last year as Months Supply of Inventory

remained flat at 4.0 months.


Warmer temperatures appear to have helped bring some sellers back to the market, providing additional options to home shoppers during the spring buying season. Total inventory was up 4.7% month-over-month and 14.4% year-over- year, for a 3.2 months’ supply at the current sales pace, according to NAR. Nevertheless, demand continues to outpace supply and properties are selling quickly, with the typical home spending 33 days on market nationwide, down from 38 days the month before.


Curious about the current value of your home? Don’t hesitate to reach out to a member of the Kira Witherwax Team at RE/MAX North Country.


To view the full Market Report for April, download the link below.

ACVMLS- April 2024 Stats - May Release
.pdf
Download PDF • 130KB



2 views0 comments

Recent Posts

See All

Comments


bottom of page