Sales were up! It’s a Seller’s Market

Single-Family:

Sales jumped 35%  in December. The average sales price rose 19% while the median sales price increased by 22%. As we have seen in the past, it’s pretty clear that the sales were concentrated in the upper price ranges thus pulling the average up. Part of the reason for higher dollar properties selling is simply an extreme shortage of lower priced homes on the market.

Pending sales were up 30% so it looks like the January numbers will be good. The number of new listings did increase by 14% but the active listings fell by 8% leaving the months of inventory at 1 month.

Sales: 196

Average Sales Price: $177,075

Median Sales Price: $154,900

Pending Sales: 140

New Listings: 128

Active Listings: 163

Months of Inventory: 1