Real Estate Market Picks Up!

Realtors always say that the market can turn on a dime, and we have really seen that on the Mid-Peninsula in the last few weeks! We are going into the 10th month in a row of increased sales activity vs. the year before, and prices are steadily inching up:

Average Closed % of List Price

2009 Price DOM Sales Inventory Received

January $1.552 52 12 85 95%

February $1.465 64 14 124 96%

March $1.391 53 24 140 98%

April $1.536 65 29 161 95%

Average Closed % of List Price

2010 Price DOM Sales Inventory Received

January $1.396 65 22 76 98%

February $1.634 64 22 80 97%

March $1.645 62 27 89 99%

April $1,707 37 32 96 99%

Days on Market (DOM) is a key indicator of market strength. % of List Price Received is also key, and I believe will be over 100% when the May data is in.