The sales in May surprised me! It was a very strong month in what seems to be a changing market. On the street, I’m seeing fewer showings, more price reductions, longer time on the market and more options for buyers. On the other hand, we are finally seeing enough active listings out there to satisfy the buyers who have been looking for awhile. Some price ranges and areas and moving more quickly that others. Sellers need to make sure their expectations are in line with the market so that their listing doesn’t miss the mark and sit on the market. Here are a few key graphs, but for the whole picture click through the slideshow.
The number of sales in May increased by a robust 12.6% compared to the same month last year. As a result, YTD sales are now up 2%.
Even though sales were up in May not all houses were selling. When a property doesn’t sell, for whatever reason, a price reduction is often the best way to overcome objections and get it sold.
