≡ Menu

May Phinneywood Housing Market Snapshot

This is a monthly contribution to the Blog by local realtor Doron Weisbarth.

We are in full Spring Sale mode! However, this year, comparing April 2021numbers to April 2020 is a bit risky. April 2020 was the first full month of the pandemic closure. Many homeowners who were planning on selling their home last Spring, instead took a ‘wait and see’ approach. In fact, some homeowners who had already listed their home, ended up pulling their properties off the market. In retrospect, the usual Spring Sale was simply pushed forward a couple of months, so it will be interesting to see how the numbers in June and July 2021 will compare to last year.

With all of that, the April-2021 market activity in our area was good and strong. Inventory levels dropped from a low of 0.6 months to a record super low of 0.1 months. Buyers in our area were grabbing pretty much anything that was put in front of them. May is the time of year when we start to encounter ‘buyer fatigue’,whereby some homes take longer to sell, and the number of bidding wars drop.

There are several contributing factors to this ‘buyer fatigue’. First,many buyers who have put in offer after offer only to be rejected again and again, just lose their steam. Second, sellers try to push their home prices up too fast. And finally, the nice weather offers a welcome distraction for many buyers, and they take a bit of time off. But have no fear – the buyers are likely to be back soon enough.

Have questions about buying or selling a home? Call Doron for a free, no-obligation consultation at 206-779-9808