Despite a week shortened by a holiday weekend, we still saw 17 new listings hit the market, which is 5 more than the previous week. Days on market jumped a little, but that is to be expected when we are seeing so many new listings coming on the market at once. And while 20 days may seem like a long time to be on the market in the world of Bay Area real estate, it is actually lightning quick when compared to the national average (58 days).
The influx of new inventory really hasn't impacted sales numbers as much as one might expect. Prices are still generally on the rise, and homes are regularly selling $30,000-100,000 over the asking price. We'll see if this changes as we transition into summer, and the spring buying season comes to a close.
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