Posted on May 7, 2021 at 1:55 pm by West Sider

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Last month we couldn’t believe the pace of contracts being signed. Well, it has accelerated and market activity continues to rage. Likely driven by pent-up demand and continued record low interest rates, we are seeing deal volume that is 26% higher than previous peak levels we saw in boom years, in the summers of both 2013 and 2015. There are currently 4,800 pending deals, with just over 1,600 contracts signed in the last month alone. We are also seeing record inventory numbers; over 2,200 listings have come on the market in the last month. That is 42% higher than the seasonal average pace of the past nine years* which includes 400 or more new listings per week for 8-9 weeks running. So as you can see, the faucets are on and the marketplace is flowing in a very healthy manner.

The result of this extraordinary activity has been a disappearance…

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