Asking prices of newly-listed homes hit a new all-time record thanks to historically low inventory (Redfin)
- The asking prices of newly-listed homes hit a new all-time record of $330,225. This is up 10% from the same time a year ago.
- FYI In a typical year asking prices do not pass the previous year’s peak until March. This could mean spring will see stronger price growth than is typical that time of year.
Just as others have found, Redfin finds that sales prices continue to rise while housing inventory continues to shrink.
- The median home sale price jumped 15% year over year to $318,250.
- New listings of homes for sale saw the the largest decline since May down 12% from a year earlier and active listings fell 36% from 2020 to a new all-time low.
Redfin chief economist Daryl Fairweather said in a statement, “With more and more homes going off the market before buyers have had a chance to tour them, it has never been more important for homebuyers to be well prepared,”