Market Report - April 2021

Dated: May 18 2021

Views: 190

Market Report - April 2021



April was another strong month for home sales. The busy spring market continues to see many multiple offer situations driving sales prices above asking price. With such strong activity, by the time a property sale closes, the market may have already moved higher than that sold price suggests. Such markets can create stress and frustration for prospective homebuyers, who are frequently having to submit offers on multiple properties before they are able to secure a purchase.

New Listings were up 72.5 percent to 733. Pending Sales increased 144.6 percent to 724. Inventory shrank 74.0 percent to 613 units.

Prices moved higher as Median Sales Price was up 17.5 percent to $393,590. Days on Market decreased 25.4 percent to 100 days. Months Supply of Inventory was down 84.9 percent to 0.8 months, indicating that demand increased relative to supply.

In the spirit of the great Wayne Gretzky, buyers, sellers, and their agents are all trying their best to skate to where the puck, or rather, the housing market, is going, not where it has been. While housing affordability remains an area to watch as prices continue to rise, strong buyer demand and limited housing supply show no signs of easing soon, pointing to a continuation of this market trend through spring and into summer.

Blog author image

Ryan Bohr

When the opportunity arose for Ryan Bohr to join a dynamic team of Realtors in Hilton Head Island, he went "All-In" moving his wife and two young children from Raleigh, NC. He was most recently invo....

Latest Blog Posts

Market Report - August 2021

Market Report - August 2021The booming U.S. housing market has spilled over to the rental market, which has seen demand for apartment and single-family rentals skyrocket this year, as high sales

Read More

Market Report - July 2021

Market Report - July 2021The White House recently announced additional measures to help struggling homeowners avoid foreclosure as they exit forbearance, including loan modifications and payment

Read More

Market Report - June 2021

Market Report - June 2021School’s out, and as vaccination rates rise and America enters a new normal, the U.S. housing market continues along at a frenzied pace, with low interest rates and

Read More

Market Report - May 2021

Market Report - May 2021As the weather warms and pandemic restrictions ease across much of the country, the U.S. housing market shows little sign of cooling. Robust buyer demand, fueled by low

Read More