Inventory is Very Low!

Single-Family:

Sales were up by 19% in January as compared to a year ago. The average sales price fell by 3% but the median sales price rose by 8%. Just some gyrations in the makeup of the sales. Pending sales jumped 30% so we can anticipate a good sales number for February. New listings climbed by 7% and the active listings by 20%. Unfortunately these increases in inventory only raised the months of inventory to 1 month. 6 months is considered a balanced supply/demand number so you can readily see how far off the market is skewed to the Seller side.

Sales: 215

Average Sales Price: $334,991

Median Sales Price: $290,000

Pending Sales: 272

New Listings: 270

Active listings: 302

Months of Inventory: 1