When the numbers came out as expected, we knew they were going to be down. When you compare April this year compared to April last year – April last year was insane. We knew the numbers were going to be down. The good news is, though, I do have a silver lining and some good news to share with you.
Let’s delve into the numbers first. April, we’re down 20.7% for number of sales, which was expected and the average sale price was down 8.3%. Once again, that was expected as well. If you’re going to compare April to last year to this year, we knew they were going to be down. Let’s look at year to date, that usually tells a bigger picture, a bigger sample size.
Number of sales was down 33.5%. We’re closing the gap a little bit. We were over 40% down. We’re now only down 33.5%. And our average sale price is down 12.4% Our average sale price year to date is $646,000 compared to last April $738,000. So when you look at the numbers, you think they’re bad, they’re poor, we’re down. What’s going on?
But let me tell you the silver lining. We finished the year in 2022 with an average sale price of $691,000. By the end of January, we dipped all the way down to $612,000. We’re starting to climb our way out of it. We’re now at $646,000 compared to $612,000 in January. The good news is we’re trending in the right direction. Days on market is coming down. Inventory starting to increase. The market is starting to shift. I’ve been telling you probably for the last six months, it’s time to get into the market.
Folks. You’re almost missing it now you have to get in the market now, if you want help navigating this crazy market, helping you get into this market or helping you get your home sold, give us a call, get a hold of us at paulrushforth.com.