While monitoring weekly showings, new pendings and closed sales activity we’re seeing early signs that the sizzling hot spring markets are dialing down that heat. As society reopens to a new post-normal, buyers who have been hyper focused on buying homes, suddenly have graduation parties, family gatherings, vacations and other activities that are diverting their attention away from buying homes.
YTD sales are way ahead of last year and in most markets about even with 2019. Buyer competition has driven average sale prices and price per square foot up well into double digits figures. Although markets remain brisk with about a third of homes selling in the first 10 days, expect some settling as local markets move through summer.