Active Listings: – 23 %
23% fewer homes are on the market than last year at this time. A shortage of homes for sale?
Homes sold in May: + 22 %
22% more homes sold (settled) in May 2012 than May 2011. Intriguing, no?
Median Sold Price: + 7 %
Since every home is different, it’s hard to say how useful this is, but at least it suggests that homes are selling at a higher price than a year ago.
Average Days on Market: – 25 %
Homes that sell are going under contract in under 6 weeks on average, or two weeks faster than last year. But wait, there’s more – an interesting underlying statistic is that 940 of 2,041 homes (46%) sold in May were on the market for 10 days or less.
And if you put that in your pipe, you can smoke it. It’s hot enough.