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April 2021 Monthly Housing Market Trends Report: Homes Are Selling Lightning Fast Amid a Continuing

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Homes Are Selling Lightning-Fast

Homes for sale in April continued to sell more quickly than last year, as buyer demand remains strong and the housing market laps slow conditions last April. The typical home spent 43 days on the market this April, which is 20 days less than last year. It is also 18 days less than the typical time on market in April 2017 to 2019, indicating continuing record-setting demand for housing.

In the 50 largest U.S. metros, the typical home spent 34 days on the market, and homes spent 17 days less on the market, on average, compared to last April. Among these 50 largest metros, the time a typical property spends on the market has decreased most in the Northeast (-21 days), followed by the South (-18 days), the Midwest (-16 days), and the West (-15 days).

Listing Prices Continue to Rise

The median national home price for active listings grew by 17.2% over last year and reached $375,000 in April, higher than last month’s growth rate of 15.6%. The median listing price of $375,000 is a new all-time high.

Austin (+40.6%), Los Angeles (+23.6%), and Riverside (+22.0%) posted the highest year-over-year median list price growth in April. Memphis (-4.0% year-over-year), Milwaukee (-2.4%), and Louisville (-0.9%) were the only top 50 metros to see their median listing price decline year-over-year in April.

Areas Median Price Year over Year % Increase

Sacramento–Roseville–Arden-Arcade, Calif. $592,000 18.6%

Minneapolis-St. Paul-Bloomington, MN $366,000 0.2%

Dallas-Fort Worth-Arlington, Texas. $380,000 12%

Tampa-St. Petersburg-Clearwater, Fla. $327,000 17.3%

Nationwide $375,000 17.2%


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