1. Active listings are up 50.1% year-over-year and 16% week-over-week, as the market continues to heat up.
2. Days on market remain elevated, up 36.7% year-over-year, giving buyers slightly more time to make informed decisions.
3. Coming Soon listings have increased by 25.6% week-over-week, signaling a continued rise in inventory in the coming days.
4. Seller concessions were included in 66.6% of closed sales, making this a great time for buyers to negotiate closing costs or repairs.
5. Price reductions have significantly decreased, dropping from 60% in Q4 to 39.3%, suggesting stronger competition among buyers.
6. Pending sales are picking up – 820 homes went under contract last week, up 13.1% week-over-week, showing buyers are actively making moves.
7. While market activity is increasing, we’re still seeing an average of 1.9 showings per property per week, with 16 showings needed to go under contract.
8. The Odds of Selling grew slightly week-over-week to 41.9%, though still down 6.1% year-over-year as inventory continues to rise.
9. Withdrawn listings have dropped 64.6% from last year, indicating sellers are staying committed and competition is intensifying.
10. With mild weather and no football games this weekend, you can anticipate more competition entering the market and an increase in showing and open house activity.
