statpak may 2020 washington, dc… · the full force of the impact of covid-19 on washington,...

Copyright © 2020 – McEnearney Associates Washington, DC StatPak -

MARKET IN A MINUTE A SUMMARY OF MARKET CONDITIONS FOR APRIL 2020

Unless otherwise noted, data derived from Metropolitan Regional Information Systems, Inc. (MRIS®). “Northern Virginia” is defined as Arlington and Fairfax counties and the cities of Alexandria, Falls Church & Fairfax.

CONTRACTS Contract activity in April 2020 was down 49.8% from April 2019 and was down in all six price categories. Through the first four months of the year contract activity is down 12.5%. The average number of days on the market for homes receiving contracts was 34 days in April 2020, up from 31 days in April of last year. URGENCY INDEX The Urgency Index, simply the percentage of homes going under contract that were on the market 30 days or less, was down in April compared to the year prior. During the past 15 years, the Index has been as high as 83% (May 2005) and as low as 30% (December 2008). In April 2020, the Urgency Index was 73.6%, down from 76.7% in April 2019. INVENTORY The number of homes on the market at the end of April was down 1.3% compared to the end of April 2019. The number of new listings coming on the market decreased 36.7% compared to April 2019. The decrease in contract activity combined with the decrease in listings raising overall supply considerably to 2.6 months from 1.3 months at the end of April 2019. INTEREST RATES 30-year fixed mortgage interest rates at the end of April stood at 3.23%, about seven-eighths of a point lower than this time last year, slightly lower than the end of last month. It is likely that rates will continue to hover near these historic lows to help stave off further declines in new contract activity. AFFORDABILITY The payment on a no-money-down, 30-year fixed mortgage for a median-priced home is 29.3% higher than a decade ago in April 2010 – but the median price is 61% higher. Despite rising home prices, lower interest rates have dropped the payment 6% compared to this time last year. The mortgage payment for a median priced home ($2,691) was higher in April than the median rented price ($2,560). DIRECTION OF THE MARKET The full force of the impact of COVID-19 on Washington, DC’s real estate market was felt in April. More than a third of would-be sellers and half of would-be buyers opted out of the market as new listing and contract activity both fell significantly. As rough as these numbers are, the month ended slightly better than it began, and that has continued into the early part of May. Nonetheless, The District has been hit much harder than the suburban markets, and overall supply relative to demand doubled compared to last April. That will likely cause home prices to flatten a bit in DC, but historically low mortgage interest rates are helping. We expect the market to continue to lag well behind last year’s, as well as lag behind the suburban markets into the summer because of the havoc wreaked on the economy by COVID-19. But as we have noted before, the region’s real estate market is among the most resilient in the county, and we will get through it.

WASHINGTON, DC MAY 2020 STATPAK

McEnearney.com


MONTHLY SUMMARY APRIL 2019 vs. APRIL 2020

April April %WASHINGTON, DC 2019 2020 Change

Number of Sales 875 596 -31.9%Fully Available Inventory on 4/30 1,376 1,358 -1.3%Number of New Listings 1,355 858 -36.7%Number of New Contracts 1,058 531 -49.8%Days on Market - New Contracts 31 34 9.7%Average Sales Price $691,208 $734,197 6.2%Average Seller Subsidy $2,029 $2,540 25.2%Urgency Index 76.7% 73.6% -4.0%Months' Supply 1.3 2.6 96.6%

MONTGOMERY COUNTYNumber of Sales 1,101 963 -12.5%Fully Available Inventory on 4/30 2,176 1,437 -34.0%Number of New Listings 1,993 1,056 -47.0%Number of New Contracts 1,455 821 -43.6%Days on Market - New Contracts 30 26 -13.3%Average Sales Price $543,538 $590,446 8.6%Average Seller Subsidy $3,105 $3,449 11.1%Urgency Index 78.5% 76.0% -3.2%Months' Supply 1.5 1.8 17.0%

PRINCE GEORGE'S COUNTYNumber of Sales 873 743 -14.9%Fully Available Inventory on 4/30 1,490 1,180 -20.8%Number of New Listings 1,343 913 -32.0%Number of New Contracts 1,316 826 -37.2%Days on Market - New Contracts 43 36 -16.3%Average Sales Price $307,521 $345,488 12.3%Average Seller Subsidy $5,432 $6,168 13.5%Urgency Index 65.0% 72.2% 11.1%Months' Supply 1.1 1.4 26.2%

NORTHERN VIRGINIANumber of Sales 2,163 1,715 -20.7%Fully Available Inventory on 4/30 2,530 1,968 -22.2%Number of New Listings 3,179 2,074 -34.8%Number of New Contracts 2,535 1,665 -34.3%Days on Market - New Contracts 17 19 11.8%Average Sales Price $621,537 $668,187 7.5%Average Seller Subsidy $1,798 $1,715 -4.6%Urgency Index 87.0% 85.2% -2.1%Months' Supply 1.0 1.2 18.4%

LOUDOUN COUNTYNumber of Sales 564 573 1.6%Fully Available Inventory on 4/30 944 738 -21.8%Number of New Listings 977 676 -30.8%Number of New Contracts 771 503 -34.8%Days on Market - New Contracts 19 20 5.3%Average Sales Price $530,574 $582,013 9.7%Average Seller Subsidy $2,409 $2,048 -15.0%Urgency Index 83.0% 84.7% 2.0%Months' Supply 1.2 1.5 19.8%

* Note: Percentages depicted in red indicate a negative market trend; black indicates a positive market trend


YEAR-TO-DATE SUMMARY 2019 vs. 2020

Jan-Apr Jan-Apr %WASHINGTON, DC 2019 2020 Change

Number of Closed Sales 2,567 2,609 1.6%Average Month-End Available Inventory 1,262 1,242 -1.5%Number of New Listings 4,361 4,030 -7.6%Number of New Contracts 3,384 2,960 -12.5%Days on Market - New Contracts 41 41 0.0%Average Sales Price $703,030 $724,021 3.0%Average Seller Subsidy $2,479 $2,781 12.2%Average Urgency Index 67.6% 67.2% -0.6%Average Months' Supply 1.5 1.7 12.6%

MONTGOMERY COUNTYNumber of Closed Sales 3,039 3,381 11.3%Average Month-End Available Inventory 1,763 1,339 -24.1%Number of New Listings 5,725 5,023 -12.3%Number of New Contracts 4,417 3,962 -10.3%Days on Market - New Contracts 45 38 -15.9%Average Sales Price $532,200 $560,383 5.3%Average Seller Subsidy $3,602 $3,593 -0.2%Average Urgency Index 66.6% 70.3% 5.5%Average Months' Supply 1.6 1.4 -15.4%

PRINCE GEORGE'S COUNTYNumber of Closed Sales 2,847 2,876 1.0%Average Month-End Available Inventory 1,607 1,166 -27.4%Number of New Listings 4,745 4,316 -9.0%Number of New Contracts 4,577 3,822 -16.5%Days on Market - New Contracts 53 42 -20.3%Average Sales Price $300,650 $332,955 10.7%Average Seller Subsidy $5,674 $6,198 9.2%Average Urgency Index 54.2% 64.3% 18.6%Average Months' Supply 1.4 1.2 -13.0%

NORTHERN VIRGINIANumber of Closed Sales 6,026 5,807 -3.6%Average Month-End Available Inventory 2,093 1,732 -17.2%Number of New Listings 9,711 8,656 -10.9%Number of New Contracts 7,859 6,930 -11.8%Days on Market - New Contracts 26 25 -3.3%Average Sales Price $595,327 $646,150 8.5%Average Seller Subsidy $2,229 $1,985 -10.9%Average Urgency Index 79.9% 83.2% 4.1%Average Months' Supply 1.1 1.0 -6.1%

LOUDOUN COUNTYNumber of Closed Sales 1,656 1,759 6.2%Average Month-End Available Inventory 809 670 -17.2%Number of New Listings 3,133 2,881 -8.0%Number of New Contracts 2,384 2,150 -9.8%Days on Market - New Contracts 30 28 -7.6%Average Sales Price $527,909 $573,317 8.6%Average Seller Subsidy $2,813 $2,397 -14.8%Average Urgency Index 77.1% 82.4% 6.9%Average Months' Supply 1.4 1.2 -8.2%

* Note: Percentages depicted in red indicate a negative market trend; black indicates a positive market trend

Year-to-Date


WASHINGTON, DC – Detail Pages

30-YEAR FIXED AND 1-YEAR ADJUSTABLE RATES Month-End Mortgage Rates – 2013-Current

MORTGAGE RATES • 30-year fixed interest rates at

the end of April averaged 3.23%, compared to 4.14% at the end of April 2019.

• One-year adjustable rate mortgages were 3.14% at the end of April 2019, which is down from 3.68% at the end of April 2019.

BUYING POWER • A $1,000 principal and interest

payment supported a loan of $230,357 at the end of April, which is $24,393 more than April 2019, and $39,319 more than April 2009.

• In April 2010, it would have taken a monthly PI payment of $2,081 to purchase a median-priced home. Today it takes a payment of $2,691 to buy a median-priced home. That’s a 29.3% increase - but the median price is 61% higher.

AVERAGE PRICES • The average sales price in

April 2020 was $734,197 an increase of 6.2% from the April 2019 average price of $691,208.

• DC has the highest average and median sales prices in the region by more than $66,000.

• Remember that the change in the average sales price – up or down – doesn’t mean that individual home prices are impacted the same way.

BUYING POWER Mortgage Amount with $1,000 Payment

AVERAGES SALE PRICE Washington, DC – 2012-Current

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URGENCY INDEX % of Contracts on the Market for 30 Days or Less

Washington, DC – 2016-Current

URGENCY INDEX Washington, DC – April 2009-2020

URGENCY INDEX DC Metro Area by Jurisdiction Comparison – April 2020

URGENCY INDEX - April • In the past 12 years, the April

Urgency Index has been as high as 77.1% and as low as 47.2%.

• The average April Urgency Index during the past 12 years is 69.0% – which is lower than where it is now in DC.

• Contract activity is down 49.8% from last April – and the Urgency Index decreased from 76.7% to 73.6%.

URGENCY INDEX – DC Metro Area • The average April Urgency Index

during the past 12 years for all five of the jurisdictions we track is 68.4% – significantly lower than where we are today, which is 79.5% for all five jurisdictions.

• DC came in fourth this month. As noted above, it is higher than its 12-year average.

URGENCY INDEX – 2016-Current • This chart compares the number

of contracts (green line) to the percent that were on the market 30 days or less (blue bars). At first glance, it may appear that the lower contract activity also means a lower percentage of homes that sell quickly – but that’s not always true.

• Across the DC metro area, as contract activity fell in the second half of March in reaction to the COVID-19 pandemic, the urgency index actually rose.

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NEW CONTRACT ACTIVITY • As noted on page 2, the number

of new contracts ratified in April 2020 was down 49.8% from April 2019. There were decreases for all price categories.

• As noted on page 3, contract activity year-to-date is down 12.5%.

• 19.8% of all homes going under contract in April had at least one price reduction. Last April it was 17.6%.

MONTHS’ SUPPLY • The overall supply of homes on

the market at the end of April 2020 was 2.6 months, up significantly from 1.3 months at the end of April 2019.

• DC has the most balanced supply in the region across all but the highest price category.

FULLY AVAILABLE LISTINGS • As noted on page 2, the available

inventory for April 2020 was down 1.3% from April 2019 and inventory decreased for four price categories.

• 28.7% of all homes on the market have had at least one price reduction since coming on the market. In April 2019, 30.9% of all homes on the market had at least one price reduction.

FULLY AVAILABLE LISTINGS Washington, DC – April 30, 2019 vs. April 30, 2020

MONTHS’ SUPPLY Washington, DC – End of April 2019 vs. End of April 2020

NEW CONTRACT ACTIVITY Washington, DC – April 2019 vs. April 2020 by Price Range

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# of New Contracts

April 2020

April 2019


AVERAGE NUMBER OF DAYS ON THE MARKET – NEW CONTRACTS • The average number of days on

the market for all homes receiving contracts in April 2020 was 34 days, which was up 9.7% from 31 days last April.

AVERAGE NUMBER OF DAYS ON MARKET Washington, DC – April 2019 vs. April 2020 – New Contracts

NUMBER OF NEW LISTINGS, CONTRACTS AND ACTIVE LISTINGS • There were 858 new listings that

came on the market in April 2020, a 36.7% decrease from the 1,355 in April 2019.

• Note how consistent the gap between available inventory (green line) and contract activity (red line) has been over the 5+ years covered by this chart. That’s indicative of a very solid market over a long period of time.

SOME DEFINITIONS AND EXPLANATIONS TO AID YOUR UNDERSTANDING OF THE DATA • The data shown here are collected, in whole or in part, from the Metropolitan Regional Information System, Inc, and are believed to be reliable but are not guaranteed • “Sales” are transactions that settled during the statistical period; “Under Contracts” are contracts negotiated during the statistical period, but not yet settled • “Available Listings” reflects single-family homes, town homes, new homes and condos on the market at the end of the period in question. • “Months’ Supply” is simply the number of “Fully Available Listings” on the market at the end of the month divided by the number of “Contracts” ratified that month.

RELATIONSHIP OF SALES PRICE TO ORIGINAL LIST PRICE vs. DAYS ON MARKET • Initial pricing strategy is critical

to the listing process, regardless of market conditions. The longer a home sits on the market, the deeper the discount to its original list price will likely be.

• Homes settling in April 2020 that received contracts their first week on the market sold, on average, 2.02% above list. Those that took 4 months or longer to sell sold for 8.02% below the original price.

NUMBER OF NEW LISTINGS, NEW CONTRACTS, AND ACTIVE LISTINGS

Washington, DC – January 2014-Current

RELATIONSHIP OF SALES PRICE TO ORIGINAL LIST PRICE vs. DAYS ON MARKET

Resale Properties Sold in Washington, DC – April 2019 vs. April 2020

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# of Days on Market

April 2020

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Analysis by Property Type – Condo/Co-op

CONDO/CO-OP - LISTINGS • The number of new listings for

condos and co-ops coming on the market decreased 37.8% compared to April 2019.

• The fully available inventory of condos as of April 30, 2020 was 2.1% more than the same time in 2019.

LISTINGS

CONDO/CO-OP - CONTRACTS • The number of condos and

co-ops receiving ratified contracts decreased 52.6% in April 2020 compared to April 2019.

• Year-to-date, contract activity is down 14.1% compared to 2019.

CONTRACTS

CONDO/CO-OP – SETTLEMENTS AND AVERAGE PRICE • The number of condos and

co-ops settling in April 2020 decreased 36.7% compared to April 2019. Year-to-date, the number of settlements is down 1.1%.

• The average price was down 0.1% compared to April 2019.

• Year-to-date, the average price is up 7.7%.

SETTLEMENTS

Condo/Co-opListings 2019 2020 % Change 2019 2020 % Change$299,999 and under 107 74 -30.8% 104 143 37.5%$300,000 - $499,999 233 149 -36.1% 193 179 -7.3%$500,000 - $749,999 211 119 -43.6% 189 188 -0.5%$750,000 - $999,999 82 56 -31.7% 103 105 1.9%$1,000,000 - $1,499,999 34 20 -41.2% 54 56 3.7%$1,500,000 & higher 21 10 -52.4% 60 47 -21.7%Grand Total: 688 428 -37.8% 703 718 2.1%

New This Month Total Active

Condo/Co-opContracts 2019 2020 % Change 2019 2020 % Change$299,999 and under 82 41 -50.0% 320 236 -26.3%$300,000 - $499,999 198 108 -45.5% 627 538 -14.2%$500,000 - $749,999 138 63 -54.3% 470 429 -8.7%$750,000 - $999,999 62 24 -61.3% 178 170 -4.5%$1,000,000 - $1,499,999 21 6 -71.4% 65 52 -20.0%$1,500,000 & higher 10 0 -100.0% 30 26 -13.3%Grand Total: 511 242 -52.6% 1690 1451 -14.1%

New This Month Year-To-Date

Condo/Co-opSettlements 2019 2020 % Change 2019 2020 % Change$299,999 and under 73 42 -42.5% 231 175 -24.2%$300,000 - $499,999 165 106 -35.8% 495 469 -5.3%$500,000 - $749,999 140 87 -37.9% 385 407 5.7%$750,000 - $999,999 59 38 -35.6% 134 157 17.2%$1,000,000 - $1,499,999 10 11 10.0% 44 61 38.6%$1,500,000 & higher 8 4 -50.0% 22 28 27.3%Grand Total: 455 288 -36.7% 1311 1297 -1.1%

Average Sales Price: Apr 2019 Apr 2020 % Change YTD 2019 YTD 2020 % ChangeCondo/Co-op $543,794 $543,318 -0.1% $530,181 $570,754 7.7%



Analysis by Property Type – Fee Simple Attached

ATTACHED HOMES – LISTINGS • The number of new listings

coming on the market in April 2020 for fee simple attached homes decreased 28.3% compared to April 2019.

• The fully active inventory at the end of April increased 2.2% compared to the available inventory at the end of April 2019.

LISTINGS

ATTACHED HOMES – CONTRACTS • Contract activity for attached

homes decreased 45.5% in April 2020 compared to April 2019.

• Year-to-date, contract activity is down 11.1% compared to 2019.

CONTRACTS

ATTACHED HOMES – SETTLEMENTS AND AVERAGE PRICE • The number of settlements

decreased 33.9% in April 2020 compared to April 2019. Year-to-date, the number of settlements is up 1.9%.

• The average sales price was up 2.8% in April 2020 compared to April 2019.

• The average sales price year-to-date is down 2.3%.

SETTLEMENTS

Fee Simple AttachedListings 2019 2020 % Change 2019 2020 % Change$299,999 and under 27 10 -63.0% 21 17 -19.0%$300,000 - $499,999 71 64 -9.9% 58 70 20.7%$500,000 - $749,999 128 60 -53.1% 109 81 -25.7%$750,000 - $999,999 87 101 16.1% 77 83 7.8%$1,000,000 - $1,499,999 83 47 -43.4% 66 73 10.6%$1,500,000 & higher 45 34 -24.4% 74 90 21.6%Grand Total: 441 316 -28.3% 405 414 2.2%

New This Month Total Active

Fee Simple AttachedContracts 2019 2020 % Change 2019 2020 % Change$299,999 and under 21 5 -76.2% 81 54 -33.3%$300,000 - $499,999 84 52 -38.1% 272 264 -2.9%$500,000 - $749,999 106 52 -50.9% 324 277 -14.5%$750,000 - $999,999 86 62 -27.9% 273 248 -9.2%$1,000,000 - $1,499,999 69 32 -53.6% 172 147 -14.5%$1,500,000 & higher 32 14 -56.3% 68 68 0.0%Grand Total: 398 217 -45.5% 1190 1058 -11.1%

Year-To-DateNew This Month

Fee Simple AttachedSettlements 2019 2020 % Change 2019 2020 % Change$299,999 and under 17 9 -47.1% 54 59 9.3%$300,000 - $499,999 70 48 -31.4% 176 215 22.2%$500,000 - $749,999 78 56 -28.2% 234 242 3.4%$750,000 - $999,999 85 47 -44.7% 227 198 -12.8%$1,000,000 - $1,499,999 48 36 -25.0% 159 139 -12.6%$1,500,000 & higher 18 13 -27.8% 52 66 26.9%Grand Total: 316 209 -33.9% 902 919 1.9%

Average Sales Price: Apr 2019 Apr 2020 % Change YTD 2019 YTD 2020 % ChangeFee Simple Attached $783,763 $805,370 2.8% $804,413 $785,898 -2.3%



Analysis by Property Type – Fee Simple Detached

DETACHED HOMES – SETTLEMENTS AND AVERAGE PRICE • The number of settlements

decreased 4.8% in April 2020 compared to April 2019. Year-to-date, there has been an increase of 11.0%.

• The average sales price for detached homes increased 8.0% in April 2020 compared to April 2019.

• The average price year-to-date decreased just 0.1%.

SETTLEMENTS

DETACHED HOMES – CONTRACTS • Contract activity for detached

homes decreased 51.7% in April 2020 compared to April 2019.

• The number of contracts year-to-date is down 10.5%.

CONTRACTS

DETACHED HOMES – LISTINGS • The number of new listings for

fee simple detached homes decreased 49.6% in April 2020 compared to April 2019.

• The number of detached homes on the market on April 30, 2020 was down 15.7% compared to April 30, 2019.

LISTINGS

Fee Simple DetachedListings 2019 2020 % Change 2019 2020 % Change$299,999 and under 6 1 -83.3% 8 7 -12.5%$300,000 - $499,999 35 14 -60.0% 46 26 -43.5%$500,000 - $749,999 37 25 -32.4% 47 49 4.3%$750,000 - $999,999 41 29 -29.3% 40 44 10.0%$1,000,000 - $1,499,999 50 25 -50.0% 37 27 -27.0%$1,500,000 & higher 57 20 -64.9% 90 73 -18.9%Grand Total: 226 114 -49.6% 268 226 -15.7%

Total ActiveNew This Month

Fee Simple DetachedContracts 2019 2020 % Change 2019 2020 % Change$299,999 and under 9 4 -55.6% 24 21 -12.5%$300,000 - $499,999 25 10 -60.0% 98 82 -16.3%$500,000 - $749,999 30 12 -60.0% 117 96 -17.9%$750,000 - $999,999 32 20 -37.5% 93 95 2.2%$1,000,000 - $1,499,999 27 15 -44.4% 84 83 -1.2%$1,500,000 & higher 26 11 -57.7% 88 74 -15.9%Grand Total: 149 72 -51.7% 504 451 -10.5%

Year-To-DateNew This Month

Fee Simple DetachedSettlements 2019 2020 % Change 2019 2020 % Change$299,999 and under 0 1 - 6 15 150.0%$300,000 - $499,999 19 11 -42.1% 61 68 11.5%$500,000 - $749,999 20 21 5.0% 76 79 3.9%$750,000 - $999,999 20 18 -10.0% 63 72 14.3%$1,000,000 - $1,499,999 25 26 4.0% 81 84 3.7%$1,500,000 & higher 20 22 10.0% 67 75 11.9%Grand Total: 104 99 -4.8% 354 393 11.0%

Average Sales Price: Apr 2019 Apr 2020 % Change YTD 2019 YTD 2020 % ChangeFee Simple Detached $1,054,925 $1,139,230 8.0% $1,084,828 $1,083,698 -0.1%



Absorption Rate by Property Type The following tables track absorption rate by property type, comparing the rates in the just-completed month to the rates in the same month of the previous year. The absorption rate is a measure of the health of the market and tracks the percentage of homes that were on the market during the given month and in the given price range that went under contract. [The formula is # Contracts/(# Contracts + # Available).] An example: The absorption rate for attached homes priced $500,000-$749,000 in April 2020 was 39.1%; that compares to a rate of 49.3% in April 2019, and the decrease means the market was better in 2019 for that type of home. If the absorption rate was less in 2020 than in 2019, we have put the 2020 rate in red. This month there was no improvement for any price category.

ABSORPTION RATES – CONDOS AND CO-OPS • The overall absorption rate for

condos and co-ops for April was 25.2%, which was a significant decrease from the 42.1% rate in April 2019.

• The absorption rate for condos across most price ranges is more balanced in DC than anywhere else in the region.

ABSORPTION RATES – ATTACHED HOMES • The overall absorption rate for

attached homes for April was 34.4%, which is a significant decrease from the 49.6% rate in April 2019.

• Again, look at the balance across most price ranges.

ABSORPTION RATES – DETACHED HOMES • April 2020’s absorption rate for

detached homes was 24.2%, a decrease from 35.7% in April 2019.

• And the balance among the price ranges is evident here as well.

Condo/Co-opAbsorption Rates Listings Contracts Rate Listings Contracts Rate$299,999 and under 104 82 44.1% 143 41 22.3%$300,000 - $499,999 193 198 50.6% 179 108 37.6%$500,000 - $749,999 189 138 42.2% 188 63 25.1%$750,000 - $999,999 103 62 37.6% 105 24 18.6%$1,000,000 - $1,499,999 54 21 28.0% 56 6 9.7%$1,500,000 & higher 60 10 14.3% 47 0 0.0%Grand Total: 703 511 42.1% 718 242 25.2%

April 2019 April 2020

Fee Simple AttachedAbsorption Rates Listings Contracts Rate Listings Contracts Rate$299,999 and under 21 21 50.0% 17 5 22.7%$300,000 - $499,999 58 84 59.2% 70 52 42.6%$500,000 - $749,999 109 106 49.3% 81 52 39.1%$750,000 - $999,999 77 86 52.8% 83 62 42.8%$1,000,000 - $1,499,999 66 69 51.1% 73 32 30.5%$1,500,000 & higher 74 32 30.2% 90 14 13.5%Grand Total: 405 398 49.6% 414 217 34.4%

April 2019 April 2020

Fee Simple DetachedAbsorption Rates Listings Contracts Rate Listings Contracts Rate$299,999 and under 8 9 52.9% 7 4 36.4%$300,000 - $499,999 46 25 35.2% 26 10 27.8%$500,000 - $749,999 47 30 39.0% 49 12 19.7%$750,000 - $999,999 40 32 44.4% 44 20 31.3%$1,000,000 - $1,499,999 37 27 42.2% 27 15 35.7%$1,500,000 & higher 90 26 22.4% 73 11 13.1%Grand Total: 268 149 35.7% 226 72 24.2%

April 2020April 2019

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