Sales Pace Is Slower Again

Just the facts, in my opinion

In market news:
- Single-family home inventory rose from 430 to 600, interest rates, inflation and early summer plans have all contributed to this rise.
- Days on market for May were at 15 days, same as April. May 2021 was at 25 days for comparison.
- Average sales price for May was 845K, down from 909K in April. May 2021 was at 784K.
- Median sales price for May was 605K, up from 595K in April. May 2021 was at 538K.
- Sales pace is slower again. 9% down from May 2021 and 14% lower in total for the year so far compared to 2021. This slower pace has been the trend since July 2021.
- May also saw the sales price exceed the asking price at 101.1% of the list price.

As always, call me for any reason and I'll be happy to help!
- Thomas D.