Easter Weekend Update
Easter weekend slowed the market this last weekend and buyers chose to spend time with family over looking at homes for sale. Active inventory was up 4.4% to 3,859 homes for sale. New listings and coming soons also declined as sellers understand it's not favorable to list over holiday weekends. Coming soons were down -38.5% and New listings were down -17.9% from the previous week. Pending transactions fell off by -5.1% with 978 units going under contract. Showings were actually up week over week by 7.5% with 12,358 showings set, for an average of 3.2 shows per property. Last week saw approximately 13 showings to go under contract and a median of 7 days on market for units going under contract last week. Only 25.1% of pending transactions had to make a price reduction to go under contract with an average reduction of -4.3% from the original price.
