May 2021 Market Stats

Inventory continues to be incredibly low and we are seeing this month over month! For perspective, inventory is down nearly 47% in May compared to last year in 2020 and stayed close to the same compared to April! Buyer demand is high and the selling inventory is still struggling to keep up with that demand.

What does this mean for buyers?

Low inventory means you need to be on your toes when you go house hunting -- the best homes will be picked up FAST. The average days on market for April was 17 days, which is 60% quicker than last year in May and nearly 9% quicker than April. That doesn't leave much time to hem and haw over your home search. 

What does this mean for sellers?

Low inventory means low selling competition! There were only 601 new homes that came on the market with the average home price for the Antelope Valley was $437,888.91! That is 24% HIGHER than May 2020. Since your home will be one of the (relatively) few listed on the market, you could be in the driver’s seat. So enjoy possibly picking the best offer and moving at a pace that best suits your timeline. But after your home is sold, you probably won’t be in the driver’s seat anymore (if you’re buying again). So decide on plans for your next home before you sell.

If you have any questions about the real estate market and what to expect with selling or buying a home, don't be afraid to reach out!

My email is: mike@avwatson.com

Cell: 661-733-2196