Sellers, it’s time to prepare your homes to compete and watch your activity, while buyers may need to get aggressive depending on their price point, as properties below $400k are seeing regular multiple offers.
The languishing interest rates keep the spring market from fully blooming. This may lead to sustained demand through the summer and fall if the rates decide to come down a bit.
Active Listings - 15,579
We are up about 118 listings since last week. Growing, just kind of slowly.
Under Contract - 8,329We are nearly closing the gap between 2023 and 2024. 2 weeks of growing contract numbers will barely get us there.
Contract Ratio - 53.5
The engine will start but I’m not sure I wanna drive it too far. We are sputtering a bit and will likely maintain this unexciting speed at least for a few more weeks.
Cromford Market Index - 115.3
It’s declining by another point per week. Like last time, we’ll sound the alarm if we start to see a change of 5+ points per week.
For more detailed statistics and trends, check out our Facebook post here, where you can find visual representations of the data.
Additionally, if you’re interested in a comprehensive market update, feel free to watch our latest video on YouTube here. Stay tuned for more updates!