April Market Activity – ’01 to ’10
April Trending: As in March, the number of homes selling with multiple offers (over asking price) continued to increase. In addition, all-cash offers have increased in frequency. However, buyers are still picky and tend to pursue homes with the fewest defects and least amount of work needed to be done (unless they believe they are receiving a significant discount for those perceived deficiencies).
Bottom line: The real estate market is continuing to heat up as Silicon Valley begins to recover from the recession.
The charts below show the number of closed sales in the month of April of each year (‘01 through ’10) including the number of homes for sale on the last day of the month. At the bottom of each chart, you will see the number of months it would take for the homes to sell at that month’s rate of sales, plus the average percentage of list price received by sellers in April of each year.
* Months of inventory on the market
** Average percent of price received