On May 24, 2017, National Association of Realtors® (NAR) reported on median home value price was $244,800 in April of 2017 gained 6.0% from the price of $230,900 in April of 2016.
Single family home sales declined 2.4% to annual rate of 4.95 million unit in April of 2017 from the annual rate of 5.07 million sales in March of 2017, but rose 1.6% from the 4.87 million home sales rate in April of 2016. The median single family home price was $246,100 in April of 2017, jumped 6.1% from
April of 2016.
Condominium and co-op sales dropped 1.6% to an annual rate of 620,000 units in April of 2017 from March of 2017, but higher 1.6% from the 610,000 units in April of 2016. Median existing condo price was $234,600 in April of 2017, up 5.6% from April of 2016.
Distressed homes sales were 5.0% in April of 2017 decreased from 6.0% in March of 2017, and lower from 7.0% in April of 2016. Foreclosures accounted for 3.0% and short sales were 2.0% of distress sales in April of 2017. Foreclosures sold at average 18.0% discount from market value in April of 2017, up from the 16.0% discount in March of 2017, while short sales sold at 12.0% discount in April of 2017, down from 14.0% discount in March of 2017.
An average it took 88 days to sell a short sale property, 46 days to sell a foreclosures property, and 28 days to sell a non distress property in April of 2017.
Lawrence Yun, NAR chief economist, stated "Homes in the lower- and mid-market price range are hard to find in most markets, and when one is listed for sale, interest is immediate and multiple offers are nudging the eventual sales prices higher."
For more complete information on NAR's April of 2017 home sales stats, please CLICK HERE
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