There were 3,209 sales in April, a new record high for the month. Many sellers listed their homes this month but demand was strong enough to absorb the additional supply, ensuring the market continues to favour the seller.
Detached homes hit a new record high for the month with 2,046 sales. The months of supply remained well below two months, which is contributing to a steady climb in prices. The benchmark price rose to $529,100, which is nearly 11% higher than last year and more than $30,000 higher than levels recorded at the start of 2021.
Year-to-date sales reached record highs in April with 888 sales. The months of supply remained below two months, which supported price growth across all districts. Year-over-year price gains were above 12%, which was enough to support new monthly record-high prices.
After the first four months of the year, row sales totaled 1,217 units. This is the best start to the year since 2007. The months of supply remain just above two months, which is significantly lower than the longer-term average of four months. As of April, row benchmark prices climbed to $293,400.
Further improvements in April resulted in 1,280 year-to-date sales, which is the strongest sales seem over the past six years. The months of supply were just over four months. This is fairly consistent with longer-term trends. The April benchmark price was $251,900, which is more than 3% higher than last year