Below are key housing market takeaways for more than 400 U.S. metro areas during the 4-week period ending April 18, 2021:
• Asking prices reached an all-time high of $356,175.
• Homes that sold during the period were on the market for a median of 21 days, the shortest time on market since 2012. This was 16 days fewer than the same period in 2020.
• 45% of homes sold for more than their list price, an all-time high. This was 18 percentage points higher than the same period a year earlier.
• The average sale-to-list price ratio, which measures how close homes are selling to their asking prices, increased 2.3 percentage points year over year to an all-time high of 101.0%, meaning the average home sold for 1% more than its asking price.
• 58% of homes that went under contract had an accepted offer within the first two weeks on the market. This was a new all-time high (Redfin’s data for this measure goes back to 2012).
• 46% of homes that went under contract had an accepted offer within one week of hitting the market, an all-time high.
Source: World Property Journal
