April Shows Signs We Aren’t Past the Frenzy Quite Yet…
Single Family (houses and townhouses) are behaving very differently than condos. In April, house prices held steady while all other metrics shot up. Houses sold much quicker this month, and for the first time since August, sold for over list price. We also had more homes sell in April than we did last month OR last year.
Condos are singing a different tune. The median sale price dropped in April, and is lower than last month and last year. Condos did sell quicker than the previous month and held steady at 99% of list price.
It is now very clear that our usual selling season that starts in March and peaks in June is going strong. Houses still lead the pack, and there are some good value to be found in the condo market right now.