If you’re selling your home this year, Redfin’s National Market Tracker has some excellent news for you.
Home sales across Redfin markets increased at a rate of 5.4% in April compared to a year earlier, and the median sale price rose 6.5% year-over-year to $275,700. April was the third month in a row that prices grew above 6%, a sign that demand is putting more upward pressure on prices.
Strong homebuyer demand is favoring sellers, with 21% of homes sold above asking price, an increase of 0.3% compared with last April and the first year-over-year increase in 19 months. Typically, this rate peaks in June, meaning we could see an even more competitive market this year than at the peak of 2013. On average, homes sold in 31 days, two days faster than this time last spring. More than a third of all new listings sold in less than two weeks.
