A 20% change in median sold price is a very significant change in a 12 month period of time. You'll notice that we had a steady climb from the end of the year, and things have stayed fairly consistent since we entered the spring selling season.
This is an unusual chart with the crazy spike in December. However, December isn't the peak of home buying as a normal trend, so somewhat understandable. With that spike at 37 days, it's still indicative of a very fast market. When the average time on market goes up 43%, that sounds like a lot. But it only represents an average change of 5 days.
Supply is up 12%. Good, we needed that. Demand shows a dip of 7%. Not alarming by any means, as we aren't seeing the same level of investor buyers as we did last year.
Supply has increased by 21% year over year. Lest we get too excited, it still means we are sitting with less choices for buyers that would be considered normal, as we have just a tad over a 1 month supply.
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