Coronavirus Market Stat Update 12
It seems the numbers are starting to be fairly consistent from day to day so this will be the last daily update. I will, of course, chime in every few days or when the numbers show something interesting.
Yesterday, Thursday, April 2, the number of new listings added to the MLS was 194. That seems like a big number in our current situation, but it is just 3% higher than last Thursday. However, when compared to the corresponding Thursday from last year, the number is down 43% (339 in 2019). For the week ending Thursday, the number of listings was down 24% compared to last year.
The number of contracts from Wednesday, April 1, is 64 which is a 51% drop from the corresponding day in 2019. There is a lag in agents reporting contracts in the MLS so it will probably finish up in the 70-75 range. If we look at the numbers for the week ending on Wednesday, the number of contracts is down 41% compared to last year.
The number of withdrawn listings on Thursday was 13 and the number moved to Temporarily Off Market was 27.
As a reminder, I am available by Zoom conference to chat about market conditions and if this is the right time for you to buy or sell. Real estate is now an essential business which means we can show homes, but obviously we do it in adherence with acceptable protocols. If you have an urgent need to buy or sell, it can be done. If your need isn't urgent, it may be wise to wait a bit until we get through this first peak.