(HAR Report): The time it took to sell a home fell by more than two weeks versus April 2020. Days on Market (DOM) went from 58 to 40. Due to strong buyer demand and surging home sales, inventory registered a record low 1.4-months supply compared to 3.4 months a year earlier. That figure is unchanged from March 2021 and is below the current national inventory level of 2.1 months recently reported by NAR.
Broken out by housing segment, April sales performed as follows:
$1 - $99,999: decreased 27.6 percent
$100,000 - $149,999: decreased 23.7 percent
$150,000 - $249,999: increased 5.1 percent
$250,000 - $499,999: increased 80.6 percent
$500,000 - $749,999: increased 132.2 percent
$750,000 and above: increased 164.3 percent
HAR also breaks out sales figures for existing single-family homes. Existing home sales totaled 7,340 in April, up 54.0 percent compared to the same month last year. The average sales price jumped 24.5 percent to $372,884 while the median sales price climbed 23.6 percent to $293,000.