RE/MAX National Housing Report for April 2021
DENVER, May 17, 2021 / PRNewswire / – On average, home sales took just 32 days from listing to contract signing in April, while the median sales price rose to $ 320,000 – both new records in the 13-year history of the report. These statistics and other key indicators, including a reporting record for sales in April, signal a potentially hot market entering the traditional peak sales months of May through August.
Home sales in the report’s 53 metro areas rose 5.3% in April versus March, slightly outperforming the five-year average growth of 5.0% from March to April from 2015 to 2019. In contrast, declining 2020 home sales decreased 13.7% from March to April as pandemic-induced home stay orders were in effect in many states.
Limited inventory remains a major problem. However, as more homes hit the market in April, the month-to-month decline in active inventory dropped by double-digit numbers from month to month from March to April, down to just 2.4%. Nevertheless, inventories decreased by 42.2% compared to the previous year. Additional context:
- Monthly inventory hit a record low of 1.1, compared to the previous reporting record of 1.3 in March.
- Home sales were the highest in April, marking the 10th highest month in the past 13 years.
- April’s record low of 32 days on the market has fallen by four days compared to the previous reporting record of 36 days November 2020 – a significant change compared to the 46 days in April 2020.
- Median sales price rose 5.9% from March, the highest month-to-month increase since 6.2% from May to May June 2019.
“Even with rising real estate prices, super-fast turnarounds and tough competition for available offers, April 2021 There have been more home sales in at least 13 years than in April. This is a clear reflection of the overwhelming demand and resilience of today’s buyers, “he said Adam Tales, CEO of RE / MAX Holdings, Inc. “The 32-day average – a reporting record – is also remarkable. Many offers are picked up on the day they go on sale or within a few days. This pace underscores the The importance of an experienced professional who can guide you to smart decisions and act quickly – on both sides of the transaction. “
Though year-on-year comparisons are heavily skewed by the 2020 pandemic containment measures, highlights and local markets that provide different metrics for April include:
Closed transactions
Of the 53 metropolitan areas examined in April 2021Average total home sales increased compared to 5.3% March 2021and an increase of 45.2% compared to April 2020. Coastal metros led to an increase in the share of sales compared to the previous year San Francisco, CA. at + 121.0%, New York, NY at + 112.2% and Miami, Florida + 111.9%.
|
Closed transactions: |
|||
|
market |
April 2021 |
April 2020 |
year for year |
|
San Francisco, CA. |
6,840 |
3.095 |
121.0% |
|
New York, NY |
2.716 |
1,280 |
112.2% |
|
Miami, Florida |
5,570 |
2.628 |
111.9% |
|
Las Vegas, NV |
4,611 |
2.507 |
83.9% |
|
Los Angeles, California |
13,241 |
7.606 |
74.1% |
Median Selling Price – Median of 53 median underground prices
in the April 2021The median of all 53 underground median sales prices was $ 320,000by 5.9% compared to March 2021 and by 16.4% of April 2020. In no metropolitan area did the average sales price fall compared to the previous year. 42 metro areas saw double-digit year-on-year growth, led by Boise, ID at + 35.3%, Augusta, me at + 27.7% and Los Angeles, California at + 25.2%.
|
Median sales price: |
|||
|
market |
April 2021 |
April 2020 |
year for year |
|
Boise, ID |
$ 439,740 |
$ 325,000 |
35.3% |
|
Augusta, me |
$ 240,000 |
$ 188,000 |
27.7% |
|
Los Angeles, California |
$ 650,000 |
$ 519,000 |
25.2% |
|
Phoenix, AZ |
$ 375,000 |
$ 300,000 |
25.0% |
|
San Francisco, CA. |
$ 1,221,000 |
$ 1,000,000 |
22.1% |
Days on the Market – 53 subway areas average
The average market days for houses sold April 2021 was 32, six days less than average in March 2021 and by 14 days from the average in April 2020. The metro areas with the lowest market days were Wichita, KS at 12, Omaha, NE at 13 and a three-way tie between Salt Lake City, UT, Boise, ID, and Seattle, WA The highest days on the market were on average Des Moines, IA at 91, Miami, Florida at 88 and New York, NY At 83rd Days on Market, is the number of days between first adding a home to an MLS and signing a sales contract.
|
Days on the market: |
|||
|
market |
April 2021 |
April 2020 |
year for year |
|
Wichita, KS |
12th |
31 |
-60.7% |
|
Boise, ID |
14th |
34 |
-58.8% |
|
Manchester, NH |
19th |
42 |
-54.8% |
|
Salt Lake City, UT |
14th |
28 |
-51.6% |
|
Richmond, VA |
19th |
36 |
-47.2% |
Monthly Inventory – 53 subway areas average
The number of houses for sale in April 2021 was 1.0% lower than March 2021 and by 42.2% of April 2020. Based on the rate of home sales in April 2021The monthly inventory decreased to 1.1 inches versus 1.3 inches March 2021and decreased compared to 4.0 in April 2020. A six month offer indicates a market that is equally balanced between buyers and sellers. in the April 2021Of the 53 metro areas surveyed, zero metro areas reported monthly supply at or above six in what is usually considered a buyer’s market. The markets with the lowest monthly inventory were Albuquerque, NM at 0.4 and a four-way tie between Raleigh-Durham, NC, Manchester, NH, Denver, CO, and Seattle, WA at 0.5.
|
Months stock: |
|||
|
market |
April 2021 |
April 2020 |
year for year |
|
Pittsburgh, PA |
1.0 |
10.9 |
-90.8% |
|
Providence, RI |
0.7 |
5.3 |
-86.8% |
|
Detroit, MI |
1.1 |
7.8 |
-85.9% |
|
Denver, CO |
0.5 |
3.0 |
-83.3% |
|
Albuquerque, NM |
0.4 |
2.3 |
-82.6% |
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As one of the world’s leading real estate franchisors, RE / MAX, LLC is a subsidiary of RE / MAX Holdings (NYSE: RMAX) with nearly 140,000 agents in more than 110 countries and territories. Nobody in the world sells more real estate than RE / MAX®, measured by the transaction pages of residential real estate. RE / MAX was founded in 1973 by Dave and Gail LinigerWith an innovative, entrepreneurial culture that offers its agents and franchisees the flexibility to run their businesses with great independence. RE / MAX agents have lived, worked, and served in their local communities for decades, raising millions of dollars each year for Children’s Miracle Network Hospitals® and other charities. To learn more about RE / MAX, search for home listings, or find an agent in your community, please visit www.remax.com. For the latest news on RE / MAX, visit news.remax.com.
description
The RE / MAX National Housing Report is distributed each month on or around the 15th. The first report was distributed in August 2008. The report is based on MLS data in approximately 53 metropolitan areas, covers all types of residential property, and is not annualized. For maximum representation, many of the largest subway areas in the country are represented and an attempt is made to include at least one subway from each state. The metropolitan area definitions, with a few exceptions, include the specific counties established by the US Government Bureau of Administration and Budget.
Definitions
Transactions is the total number of completed transactions in residential areas during a given month. The monthly inventory offer is the total number of residential properties offered for sale at the end of the month (current inventory) divided by the number of (outstanding) sales contracts signed during the month. When “outstanding” data is not available, this calculation is performed using closed transactions. Days on Market is the number of days that elapse from the listing of a property until the property is contracted for all residential properties sold during the month. The median selling price is the median of the median selling prices in each of the metro areas included in the survey.
MLS data is provided by contracted data aggregators, RE / MAX brokers and regional offices. Although MLS data is believed to be correct, this cannot be guaranteed. MLS data is constantly updated so that each analysis is a snapshot at a specific point in time. The RE / MAX National Housing Report recalculates the data from the previous period every month to ensure accuracy over time. All raw data remains the intellectual property of each local MLS organization.
SOURCE RE / MAX, LLC
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