Sellers of single-family homes received 104.88% of their asking price in May while sellers of condos received 106.9% of their asking price, says a release. New listings for single-family homes and condos stood at 1,496 and 556, respectively, in May, compared to 1,498 and 483 for the same month in 2012.

Inventory for single family homes in May was 1,766, down 33% from 2,636 in May 2012 while inventory for condos was 574, a 40% dive from 962 a year earlier.

On a national level, according to Realtor.com, as the spring homebuying season transitions into summer, some regions across the nation are seeing month-over-month inventories replenishing above usual seasonal patterns as sellers begin to respond to pent up demand. Many previously "hot" regional markets such as Sacramento and Stockton in California are in the process of balancing out, as surges in month-over-month listings begin to replenish depleted inventories, says Realtor.com.

"We are seeing large regional markets across the country leading the way to national recovery. These regions are acting as a microcosm for what's slowly happening in the larger real estate market," explains Steve Berkowitz, chief executive officer of Move Inc., operator of Realtor.com. "Overall, we're seeing seller confidence beginning to respond to consumer demand. Nationally, there are more homes going on the market for a shorter amount of time. And this is happening in our hot markets on a much larger scale."