DailyMarket Trends
Week Ending April 26th
OVERVIEW
For April 2020 (March 30 – April 26), the average weekly inventory volume came in at a strong 107.1% of April 2019 levels.
As well, last week saw an encouraging +23.8% increase in T/Os moving back to active.
While this Monday’s new contracts paced at 88.1% of last year, it was the best Monday in the past four weeks.
Note : State-level charts can be found in the appendix.
2
Market Trends
Bright Footprint
1. Daily Inventory – “Coming Soon, Active and Temp Off”
2. Daily “New Listings”
3. Daily “New Purchase Contracts”
4. Daily Number of Listings Changing to “Temp Off” Status
5. Weekly Disposition of Temp Off Listings Entering a New Status
6. Daily Number of Listings Removed from the Market – “Canceled
and Withdrawn”
7. Weekly Composition of “Listings in a Non-final Status”
8. Weekly Disposition of “Purchase Contracts Falling Through”
9. Daily Number of “New Closed” Listings
10. Weekly Average Number of Days Between Purchase Contract
Date and Closing Date
11. Daily Showing Activity
By State
1. District of Columbia
2. Delaware
3. Maryland
4. New Jersey
5. Pennsylvania
6. Virginia
7. West Virginia
Daily Inventory – “Coming Soon, Active and Temp Off”
Inventory volume continued to show stability, as last week’s total was 99.7% the level of the same week a year ago.
For April 2020 (March 30 – April 26), the average weekly inventory volume was a healthy 107.1% of April 2019 levels.
Daily “New Listings”
For the week, total new listing volume tracked at about three-quarters (74.0%) of the same week a year ago.
Similarly, the overall month stood at 73.6% of April 2019.
Note: a New Listing is only counted once upon publishing as either Coming Soon or Active.
Daily “New Purchase Contracts”
While this Monday’s new contracts paced at 88.1% of last year, it was the best Monday in the past four weeks.
Last week’s new contract activity remained soft, at 64.7% the level of the previous year.
During the month overall, new contact volume was just above half (54.7%) of the volume of April 2019.
Note: A New Purchase Contract represents when a listing has been updated to either Active Under Contract or Pending. If a contract falls through, any subsequent contract is also counted.
Daily Number of Listings Changing to “Temp Off” Status
For the week, new T/O listing levels fell in line with the same week a year ago at 93.7% of the volume.
Across April, new T/O volume ran at 135.6% of April 2019, driven by a high volume earlier in the month
Weekly Disposition of Temp Off Listings Entering a New Status
Last week saw an encouraging +23.8% increase in T/Os moving back to active.
Encouragingly, T/Os moving to ‘withdrawn’ declined by nearly two percentage points, while ‘back to active’ improved almost two points.
Daily Number of Listings Removed from the Market – “Withdrawn and Canceled”
Monday’s Withdrawn and canceled listings matched the volume of the same day last year. The week overall saw the volume of canceled and withdrawn listings pace 76.9% under the same week last year.
For the month, canceled and withdrawn volume stood at 80.6% of April 2019.
Weekly Composition of “Listings in a Non-final Status”
In contrast to March, the percentage of Active and T/O’s across all April listings in a non-final status across the month mostly stayed stable. However, pendings declined by two percentage points.
Note: Does not include final statuses of Closed, Canceled and Expired
Weekly Disposition of “Purchase Contracts Falling Through”Among deals that fell through, the percent of each status by category remained mostly stable.
Across the month, the weekly percent of back to active listings rose to 78.8% from 76.1% at the start of April.
Daily Number of “New Closed” Listings
For the week, closings came in at 91.0% of the same week last year.
For the month, closings had a healthy showing. Average weekly levels were 97.1% the same month last year.
Weekly Average Number of Days Between Purchase Contract Date and Closing Date
Week to week, the time between closing and pending widened by nearly one day.
In the month, it took two additional days to reach closing from pending compared to the start of April.
Daily Showing Activity
Total showings for the week came in at about half the level (50.7%) of the same week last year.
April 2020 average weekly showing volume came in at 41.6% of April 2019. However, the total volume for the last week of the month was +61.1% higher than the first week.
Note: Confirmed Showings are showing appointments that were confirmed through Showing Time as an in person showing. We do not know if they actually went to the appointment.
Appendix
COVID-19 Market TrendsDistrict of Columbia
Daily “New Listings” for DCA New Listing is only counted once upon publishing as either Coming Soon or Active.
Daily “New Purchase Contracts” for DCA New Purchase Contract represents when a listing has been purchased and updated to either Active Under Contract or Pending. If a purchase contract falls through, any subsequent purchase contract is also counted.
Daily Number of Listings Changing to “Temp Off” Status for DC
Weekly Composition of “Listings in a Non-final Status” for DC
Daily Number of “New Closed” Listings for DC
Daily Showing Activity for DCConfirmed Showings are showing appointments that were confirmed through Showing Time as an in person showing. We do not know if they actually went to the appointment.
COVID-19 Market TrendsDelaware
Daily “New Listings” for DEA New Listing is only counted once upon publishing as either Coming Soon or Active.
Daily “New Purchase Contracts” for DEA New Purchase Contract represents when a listing has been purchased and updated to either Active Under Contract or Pending. If a purchase contract falls through, any subsequent purchase contract is also counted.
Daily Number of Listings Changing to “Temp Off” Status for DE
Weekly Composition of “Listings in a Non-final Status” for DE
Daily Number of “New Closed” Listings for DE
Daily Showing Activity for DEConfirmed Showings are showing appointments that were confirmed through Showing Time as an in person showing. We do not know if they actually went to the appointment.
COVID-19 Market TrendsMaryland
Daily “New Listings” for MDA New Listing is only counted once upon publishing as either Coming Soon or Active.
Daily “New Purchase Contracts” for MDA New Purchase Contract represents when a listing has been purchased and updated to either Active Under Contract or Pending. If a purchase contract falls through, any subsequent purchase contract is also counted.
Daily Number of Listings Changing to “Temp Off” Status for MD
Weekly Composition of “Listings in a Non-final Status” for MD
Daily Number of “New Closed” Listings for MD
Daily Showing Activity for MDConfirmed Showings are showing appointments that were confirmed through Showing Time as an in person showing. We do not know if they actually went to the appointment.
COVID-19 Market TrendsNew Jersey
Daily “New Listings” for NJA New Listing is only counted once upon publishing as either Coming Soon or Active.
Daily “New Purchase Contracts” for NJA New Purchase Contract represents when a listing has been purchased and updated to either Active Under Contract or Pending. If a purchase contract falls through, any subsequent purchase contract is also counted.
Weekly Number of Listings Changing to “Temp Off” Status for NJ
Weekly Composition of “Listings in a Non-final Status” for NJ
Daily Number of “New Closed” Listings for NJ
Daily Showing Activity for NJConfirmed Showings are showing appointments that were confirmed through Showing Time as an in person showing. We do not know if they actually went to the appointment.
COVID-19 Market TrendsPennsylvania
Weekly “New Listings” for PAA New Listing is only counted once upon publishing as either Coming Soon or Active.
Daily “New Purchase Contracts” for PAA New Purchase Contract represents when a listing has been purchased and updated to either Active Under Contract or Pending. If a purchase contract falls through, any subsequent purchase contract is also counted.
Daily Number of Listings Changing to “Temp Off” Status for PA
Weekly Composition of “Listings in a Non-final Status” for PA
Daily Number of “New Closed” Listings for PA
Daily Showing Activity for PAConfirmed Showings are showing appointments that were confirmed through Showing Time as an in person showing. We do not know if they actually went to the appointment.
COVID-19 Market TrendsVirginia
Daily “New Listings” for VAA New Listing is only counted once upon publishing as either Coming Soon or Active.
Daily “New Purchase Contracts” for VAA New Purchase Contract represents when a listing has been purchased and updated to either Active Under Contract or Pending. If a purchase contract falls through, any subsequent purchase contract is also counted.
Daily Number of Listings Changing to “Temp Off” Status for VA
Weekly Composition of “Listings in a Non-final Status” for VA
Daily Number of “New Closed” Listings for VA
Daily Showing Activity for VAConfirmed Showings are showing appointments that were confirmed through Showing Time as an in person showing. We do not know if they actually went to the appointment.
COVID-19 Market TrendsWest Virginia
Daily “New Listings” for WVA New Listing is only counted once upon publishing as either Coming Soon or Active.
Daily “New Purchase Contracts” for WVA New Purchase Contract represents when a listing has been purchased and updated to either Active Under Contract or Pending. If a purchase contract falls through, any subsequent purchase contract is also counted.
Daily Number of Listings Changing to “Temp Off” Status for WV
Weekly Composition of “Listings in a Non-final Status” for WV
Daily Number of “New Closed” Listings for WV
Daily Showing Activity for WVConfirmed Showings are showing appointments that were confirmed through Showing Time as an in person showing. We do not know if they actually went to the appointment.