The stats are in for the month of April and the low inventory and high demand continues. Activity has picked up as we move into the end of the school year and the summer months, so any relief from the rising prices is nowhere insight.
The median sales price rose over the last year by 12.6% to $247,000 because of a declining housing inventory shown by the number of active listings. This number continues to drop as demand for housing persists. . In response to the low inventory, the number of sold houses also dropped by 9.6% to 305 homes in April. The average days on market is also down by 32% from this time last year. From the time the house goes on the market to closing, it took about 69 days on average.
The housing inventory for the Amarillo area stays below 1 month. If no new houses were listed in April, there would not be enough supply to last until May. The strong seller’s market continues despite the climb in interest rates. Now through the first Quarter of 2022 and it appears the market is not slowing down!