What is new in the housing space?
Answer: homes are selling like hotcakes, that is what.
Mostly one could argue because there isn’t enough inventory for the demand.
Covid hasn’t helped either by causing delays in homes coming to the spring market. What spring market? Yes, that is the point. We basically skipped it and went straight into summer.
So while summer sales are strong, when you compare this years numbers to last, the comparison is stark. Sales are down by half.
Half.
You read that right.
That is insane.
Berkeley, California Quarter 2 numbers for the past 12 weeks.
|
April 1 – June 30, 2020 |
vs. |
April 1 – June 30, 2019 |
|
Total Units 232 |
vs. |
Total Units 326 |
|
Active 71 |
vs. |
Active 71 |
|
Pending 51 |
vs. |
Pending 51 |
|
Sold 110 |
vs. |
Sold 204 |
|
Avg. Days On Market 12 |
vs. |
Avg. Days On Market 14 |
|
Median $1,250,000 |
vs. |
Median $1,330,500 |